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Matt Granger dumps Nikon
MrFotoFool
Posts: 353Member
Matt Granger is selling all his Nikon F gear for ...well he doesn't know what for yet. He has not chosen a new system but says the main reason is the video is not good enough. This likely makes sense for him, but since I don't do video it doesn't affect me.
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Comments
He has tested FF equipment from most prominent manufacturers, and it's my guess that he doesn't need replacements at the moment. One could conclude business is very slow or close to nonexistent. Of course, one can always rent when needed, or "borrow" equipment from B&H for future testing and perhaps slip in a video or two along with new photo shoot material. We don't know his revenue sources, and perhaps advertisers weren't offering enough to pay bills.
At least now he has a nest egg to help ride out this covid situation.
I recall an announcement that their June 30 reporting would be delayed but I could not locate the specific notice. Normally the June 30th report would have been sent to investors already.
As others more knowledgeable have mentioned in prior months, Nikon is part of the Mitsubishi keiretsu, and that until the conglomerate decided not to support Nikon, they would continue.
AP says "they are teetering on the edge" and NPS support is nonexistent. IDK.
I wouldn't call Nikon "bankrupt" at all based upon the March 2020 results, in fact, far from it. I have seen companies in far worse condition function without bankruptcy.
I would think they would first consider selling their assets including patents and the Nikon brand rather than folding per se, that is, if they could find a buyer. I think Fuji would be a possible candidate, otherwise, perhaps a Chinese buyer. The question of demand during Covid comes up, and a prospective buyer has to consider the possibility that sales will be suppressed for at least another year or two. This could make a sale untenable, in which case, a closure much like Olympus would be likely option.
Switched to Nikon FM2s and N8008 with 4 lenses and loved the results.
Then moved to Nikkor Large Format Lenses for 4x5 work, and some of those lenses were the best in group. Very sharp lenses, well coated - exceptional results. I still have 2 of the 5 that I purchased. 75MM f4.5, 90mm F8, 150mm F5.6, 210mm F5.6 and 300mm F5.6 are all terrific.
I've rented virtually all of Nikon's super-teles in the day, and again loved the results. Manual focus 400mm (all 3), 500mm P, 600mm AIS (both f5.6 and F4), and 800mm. Yet, when Canon came out with the EOS 500MM F4.5 AF lens, I knew then, whatever competitive edge Nikon had was being eroded. It took years for Nikon to catch up to Canon in the super-tele area. Canon was using flourite in their lenses in the 80s (500mm F5.6). Nikon didn't employ flourite glass until the intro of the 800mm F5.6 AFS many years later.
Nikon always seems to have been slow on the uptake, a certain conservative perspective that a) they would do it their own way and at their own pace, and b) they would offer an alternative to their main competitor, Canon.
Canon's EOS system including AF simply took hold with most pros, and again, Nikon has always been last in line, a laggard so to speak. Their products however have always been great (many better than Canon), perhaps not cutting edge (with a number of exceptions including 1200-1700mm P, 58MM f0.95 noct).
It would be a pity to have to move on to another manufacturer.
Even with the pandemic, I highly doubt an auditor would suggest such a statement. And while with the pandemic, I have to acknowledge that it is possible, I would worry about other makers just as much and in view the likelihood of Sony, Canon, Fuji or Nikon going bankrupt is remote.
AP wore thin on me a LONG time ago. I struggle to see what value he really adds, since I don't care for unhinged rants.
The reasons for filing for bankruptcy are several, including blowing out current shareholders, deferring payments to creditors including loan payments etc. I don't see Nikon as a candidate, at least as far as I can see.
If Nikon's prospects are insufficient to allow shareholders to get back their new loans and/or equity, they likely will put assets on the street for sale. Nikon has had 5 months of activity since their last financial statements, and it is conceivable that EBITDA was so negative that Nikon cannot sustain activity. I know nothing about, but he says he has two reliable sources. Time will tell.
I doubt they would go from publishing a road map like they have to bancruptcy soon so lets watch the next year.
I worry they are repeating the (IMO) mistake they did with DSLR and have too many cameras out on the market. And now the market is of course much smaller. Now if they are smart about parts sharing etc. (a big if) maybe they could have as many models as before and not face additional costs.