Given the recent Nikon financial news and projected decline in sales of non-phone camera equipment over the next several years, where do we see Nikon headed?
Without some significant new technologies (ai in combination with drones - shoot great images vicariously while you sleep at home!) or unusually convincing enhancements of existing tech, to
maximimuze SH value, one or more photo industry companies should consider mergers to survive. Consolidation or company failures may become evident sooner than we think. Does a Nikon merger with a competitor make sense? If so, who and why?
Nikon downsizing to respond mostly to growing markets (India?) will not be enough to
maintain gross revenues and assure survival. Contribution margins of product lines will become smaller, contracting operating income. Lesser SH value if revenues and EBITA declines.
Looking carefully at videos of Nikon engineers discussions of various products over the Nikon lifespan, they reflect a culture of slow but laudable progress in producing competitive products. Trouble is, Nikon can no longer readily distinguish it's products from Sony, Sigma and Canon, as the wild dogs have continued to nip at Nikon's heels, I believe its cameras are still mostly best in class, but demand us deteriorating from sexy offerings from Sony and Fuji.
Given that Hasselblad has thus far survived a disastrous 10 years by accepting capital from Chinese firm, I don't necessarily see Nikon declining into oblivion; but I do not have a crystal ball.