Thom, I was talking about Nikon 1 as a product line was losing money year after year, not the Nikon Imaging Products as a whole was losing money year after year.
Simply didn't happen in the first two or three years.
Despite the Japan earthquake in 2011 and the Thai flood that damaged Nikon's factory in late 2011,
Nikon managed to introduce the D4 in January 2012 (ahead of the London Summer Olympics) and the D800/D800E in February.
Sure, but those would show up in the 2013 Nikon results, as Nikon's fiscal year is skewed by one. In the 2012 results, quite a bit of that was a huge Nikon 1 push to make up for not being able to deliver anything else.
It didn't take Nikon Thailand that long to recover.
Well, if you consider six to nine months "not long." Note also, that Nikon's
suppliers had to recover, too. The whole D600 shutter problem that occurred right after that is most likely due to the supplier, not Nikon, for instance.
Of course hindsight is always 20/20, but all Nikon 1" sensor products were failures.
You're going to have to define "failure" for me, then. Initial sales were quite robust. Reception was mixed, sure, but there were some real positives in the early Nikon 1 sales, including an uptick in sales to women.
Nikon 1 never took off. Besides the J1, I also received a Nikon 1 AW (all weather, underwater) camera and two AW lenses for testing. That thing leaked into the rear LCD underwater. The DL line was announced and then delayed,
The DL was 2016, fairly late in the Nikon 1 life cycle, actually.
and finally Nikon cancelled the entire DL product line altogether a year after the announcement without ever shipping any production unit.
Nikon says it was because the EXPEED processor couldn't deliver what the DL's promised, but I suspect it was far more than that: At that point Nikon had decided to stop both the Nikon 1 and virtually all of the Coolpix models. Nikon executives were consistently talking about "overcapacity" at that point, and, of course, they eventually wrote off more than half of that capacity.
The KeyMission products were also a major failure.
The KeyMission products were the opposite of the Nikon 1 in terms of success/failure. The GoPro clone and the 360 were actually quite competitive, but sales failures from the get go. The problem with the Nikon 1 line eventually became they weren't as good as they needed to be once Sony went all mirrorless, but they
were sales successes initially.
I would also point out that Nikon's marketing costs in the 2014 to 2018 period were quite high as Nikon tried to fight the camera sales decline. With KeyMission, for instance, Nikon was paying BestBuy a great deal of money to promote them with end cases and extra stocking, but they didn't sell.
Thing is, a refreshed KeyMission 180 (brought up to current GoPro/DJI/Inst360 standards) would actually help round out Nikon's "cinema" thrust.
But a recurrent problem for Nikon is that they're simply not a consumer company. They just are not cut out to compete in the lower end market (and never were, despite them thinking they were). Without fixing that flaw, Coolpix, KeyMission, Nikon 1, and perhaps even Z DX are pretty much doomed to failure long term, regardless of how good the product might be or how many they might be able to force through the channels.