Mirrorless Takes Another Hammering

Started May 17, 2013 | Discussions thread
MichaelKJ
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Re: Panasonic to eliminate divisions
In reply to justmeMN, May 18, 2013

justmeMN wrote:

From Associated Press:

"Panasonic, which lost a record 772 billion yen the previous year — one of the biggest losses ever in Japan — acknowledged that its three-year business plan had fallen far short of the desired results. Under its next three-year management plan, it promised to immediately eliminate unprofitable businesses."

I don't know if Panasonic's digital camera business is or isn't profitable, but it's clear that big changes are coming to the company.

The following is from Panasonic's annual report. Revenue for cameras as a whole decreased 30%. However, unit sales of their mirrorless cameras increased 70% and sales on a "value basis" also improved.

Despite the Poor Performance of Compact Digital Cameras, Robust Results in Digital Interchangeable Lens Cameras

Despite continued growth in developing countries, demand for compact digital cameras declined due mainly to the extensive use of smartphones in developed countries and lengthening replacement cycle. Under these circumstances, Panasonic’s results mirrored the year-on-year drop in the amount of market sales that in turn reflected the steady deterioration in prices and the strong yen. In fiscal 2013, the Company will focus on thoroughly reinforcing its structure and systems, enhancing efficiency, introducing high value-added models, and expanding sales in developing countries.

Turning to its digital interchangeable lens cameras, Panasonic took concrete steps to strengthen its product lineup as well as its sales systems and structure. This included the release of LUMIX MDC-GX1, a mirrorless interchangeable lens camera. Unit sales increased 1.7 times compared with the previous year while sales on a value basis improved substantially year on year. In fiscal 2013, the Company will release products with improved basic functionality while endeavoring to strengthen the lens business. Moving forward, Panasonic will continue to expand its share of the mirrorless interchangeable lens camera market.

panasonic_ar2012e.pdf  (page25-26)

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