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Posts Tagged ‘growth’

Sony’s financial report shows 2% YOY growth for its ‘Imaging Products and Solutions’ division

18 May

Editor’s note: Keep in mind that each company groups different products under their respective ‘Imaging’ category, so there may be slight differences in what products and services are offered in the financial details. However, the categories are broadly similar and comparable, and we’ve done our best to account for those differences using available information.’


If you were to look at the most recent financials of Canon, Nikon and a few other camera manufacturers, it would seem the camera industry as a whole is facing a crisis. But not everyone in the imaging market is struggling, as Sony’s latest financials show.

Sony has published its latest annual financial report and inside a number of interesting details have emerged. Sony’s 2018 fiscal year (2018FY), which ended March 31, 2019, saw increased sales of 14.6 billion yen for its Imaging Products and Solutions division for a total of 670.5 billion yen. This amounts to a two percent year-over-year (YOY) growth, accounting for loss due to currency conversion.

A small snapshot from Sony’s financial report showing the sales numbers (in millions of yen). On the left are the numbers are through March 31, 2018, while numbers bolded in the center are the numbers through March 31, 2019. The numbers on the right are the difference between the two years.

While two percent might not seem impressive, Nikon’s imaging division reported a 17.9 percent decrease while Canon reported an annual decrease of 11.3 percent YOY.

Sony specifically mentions in its report (starting on page 26) that ‘[the] increase was mainly due to an improvement in the product mix reflecting a shift to high value-added models such as mirrorless single-lens cameras and the interchangeable lens lineup, partially offset by a decrease in compact digital camera unit sales reflecting a contraction of the market.’ Sony also says reductions in operating costs helped to reduce to YOY numbers.

In a year when it seems nearly every other company manufacturing cameras is showing decreasing profits YOY, it seems Sony managed to find a way to keep profits growing throughout 2018.


Update (May 17, 2019): The last paragraph in this article has been removed and rephrased to account for the discrepancies in the fiscal years between companies.

Articles: Digital Photography Review (dpreview.com)

 
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GoPro reveals unit growth in Q1 2018, but revenues are still down

05 May

GoPro has announced its fiscal first quarter 2018 financial results, revealing 3% year-on-year unit growth with $ 202 million in revenue. The figures exceeded analysts’ expectations, sending GoPro’s stock upward on the news, and company CEO Nick Woodman expects a similar positive outcome in the company’s second quarter.

According to Woodman, HERO5 Black and HERO6 Black sell-through drove the company’s Q1 revenue, as well as the newly launched $ 200 GoPro HERO action camera. “Initial demand for HERO is promising,” said Woodman, “and we expect it to improve as large retail partners like Target and Walmart begin selling the product in the second quarter.”

Though unit growth was up, GoPro saw a 7% year-on-year decrease in revenue. The company previously restructured multiple times to address its financial issues. In its latest financial announcement, the company said its GAAP operating expenses were reduced by 24% year-on-year.

Despite the drop in revenue versus its first quarter last year, GoPro still dominates in the US action camera market, saying it held 86% and 95% of the market share based on unit and dollar volume. “Our first quarter performance makes it clear that there is significant demand for GoPro, at the right price,” says Woodman.

Articles: Digital Photography Review (dpreview.com)

 
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Leica Camera reports ‘strong revenue growth’ for 2016/2017 fiscal year

02 Dec

In recent years, financial reports from major camera manufacturers haven’t typically made for overly positive news stories; however, Leica Camera AG is bucking this trend with the announcement of its results for the 2016/2017 financial year ending March 31st. Apparently, the German camera maker has been able to grow revenue by 6 percent, despite the global camera market declining by around 10 percent over the same period.

Leica cites systematic realignment of the company over recent years as the main driver of the positive development.

At the heart of this realignment lies the establishment of an in-house retail distribution division that now controls a network of 90 monobrand stores around the globe. The company says this move has been vital in promoting the brand, and the retail network is set to expand even further in the near future. China is currently Leica’s number one growth market, and 20 to 30 new stores are planned in the country alone.

Other important initiatives include the Leica Akademie brand—which aims to increase brand awareness among younger target groups—and the company’s collaboration with Chinese smartphone maker Huawei on the cameras in their latest high-end devices.

The upward trend has reportedly continued into the 2017/2018 financial year, leading CEO of Leica Camera AG, Matthias Harsch, to predict record-breaking growth for this coming year.

Its important to note, however, that at least part of Leica’s future growth will have nothing to do with photography. In 2017, the company entered into the eyewear segment under the Leica Eyecare brand, which Leica says will “systematically tap into this global market in conjunction with its technology partner Novacel.”

Press Release

Leica Camera AG Records Strong Revenue Growth for the 2016/2017 Financial Year and Bucks the Downward Trend in the Camera Market

The Leica Camera Group achieved revenue of almost 400 million euros in the past financial year 2016/2017 (31 March 2017) and can therefore look back very positively on the previous twelve-month period. With strong revenue growth of more than six per cent, Leica bucked the overall downward trend in the global camera market, which declined by around 10 per cent in the same period.

In the first few months of the current financial year 2017/2018, cumulative growth stands at 15 per cent, thus underscoring the positive global performance of Leica Camera AG. Despite a market environment that remains challenging, the CEO of Leica Camera AG, Matthias Harsch, once again expects a record-breaking result for the 2017/2018 financial year. As a result, the revenue of Leica Camera AG has increased more than fourfold since anchor investor and majority shareholder Dr Andreas Kaufmann came on board in 2004.

The main driver of growth is the systematic realignment of the company that has taken place in recent years. In particular, the setting up of an in-house Retail Distribution division has made a major contribution to revenue growth. Leica now has 90 monobrand stores around the world, which are vital in terms of promoting brand experience in the context of photography. ‘China is our number-one growth market,’ says Matthias Harsch, who is planning 20 to 30 new stores in the country alone. The Group is now strengthening its presence in the service sector with the Leica Akademie brand in order to boost the appeal of photography amongst younger target groups.

The extremely successful technology and brand partnership with Chinese company Huawei in the field of mobile phone photography makes Leica one of the world’s leading providers of smartphone lens applications, a burgeoning technology segment that serves as a global basis for new product ideas and applications in photography.

The entry of Leica into the eyewear segment (glasses) – a move that was completed in 2017 – offers further potential for strong revenue growth in the years ahead. Operating under the name of Leica Eyecare, the company will systematically tap into this global market in conjunction with its technology partner Novacel.

Articles: Digital Photography Review (dpreview.com)

 
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CIPA figures for April illustrate steadying of the digital camera market and continued mirrorless growth

10 Jun
DSLR sales continue to decline, but great news: the overall camera market seems to be stabilizing.

The latest figures released by the Camera and Imaging Products Association (CIPA) show that the total camera market remained mostly steady year-on-year for the month of April, and that mirrorless sales are growing against a decline in the number of DSLRs sold. CIPA’s data demonstrates that its member companies produced almost the same number of cameras this April as they did in April 2016, but that they were worth fractionally more.

During the period from January to the end of April CIPA members actually produced more cameras than they did in the same period last year, and even though the difference was only 3-4% by volume and value, it is still very positive news.

The decline in the Japanese market rather drags the worldwide shipping figures down from 8.4% by value, when Japan is excluded, to just under 4% when looking at the whole world. Outside of Japan the market grew year-on-year for the period Jan-April by 3% by volume and 12% by value, indicating the cameras being shipped are higher in price than last year.

While the interchangeable lens camera market grew by 7.4% in volume and 4.5% in value for the month, the bulk of that growth came from the ‘non-reflex’ sector. CIPA includes mirrorless cameras, compact system cameras and rangefinder cameras in these figures, though without the membership of Leica or Hasselblad we can assume that most of the category is compact system and other mirrorless cameras that have interchangeable lenses – such as Fujifilm’s GFX.

Asia remains by far the largest market for these cameras and sold almost as many bodies as Japan, Europe and America combined.

This non-reflex category jumped in value by 37.5% in Japan but in the rest of the world that growth hit 80.5%. An area designated by CIPA as ‘Other’, that doesn’t include Asia, Europe, Japan or the Americas, saw mirrorless growth of 141% by volume and 136.5% by value – though the actual figures are relatively small. Asia remains by far the largest market for these cameras and sold almost as many bodies as Japan, Europe and America combined.

While only 89% of last April’s SLRs shipped this April, the worldwide market for these cameras is still just less than twice the size of the mirrorless segment, though in Japan the value of DSLR market was only 57% of what was managed last April – a really significant drop.

The good news, of course, is that the market didn’t shrink.

For more information see the CIPA website.

Articles: Digital Photography Review (dpreview.com)

 
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Modest growth hints that the worst of the camera collapse is over

03 May

It might not be much, but the latest industry figures from trade body CIPA suggest the camera market may have finally bottomed-out.

Shipments of digital cameras with built-in lenses were flat, compared with the same period in 2016. This may not sound positive, but it comes after 21 consecutive quarters of year-on-year sales declines. On top of this, the value of these shipments was up by 7%, compared with the the same period last year.

Meanwhile, shipments of interchangeable lens cameras are up, compared to Q1 2016, with 6% more cameras shipping and the value of those shipments increasing by 14%. Mirrorless cameras make up a historic high proportion of these sales, and now account for 36% of all the ILCs shipped, though they make up only 25.6% of the value of those shipments, suggesting the average selling price of a mirrorless camera is lower than that of a DSLR.

Although there is a chance that some of this (comparatively) positive news stems from camera makers finally being able to satisfy the pent-up demand that had built up following 2016’s earthquake, the increased average selling price of fixed lens cameras can only be good news.

However, to put it into context, although ILC sales are 34% down, compared to the same period five years ago (though only 15% down in terms of value), cameras with built-in lenses are down 84% by volume. And, while every manufacturer says it’s focusing on the higher margin end of the compact market, it’s going to be difficult for all the current camera makers to get their fill of a pie that’s so much smaller than it was.

Source: CIPA 1, CIPA 2

Articles: Digital Photography Review (dpreview.com)

 
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Time Travel in China: Photos Reveal A Century of Dramatic Growth

15 Apr

[ By Steph in Culture & History & Travel. ]

time travel china 1

Few nations have experienced quite the explosive rate of growth over the last century as China, and a new photo series shows us just how dramatic those changes actually look on the ground. Photographer, computer scientist and MIT alum Dheera Venkatraman pored through books and archives to find images taken in the 20th century and then went out and re-took them, shot by shot, attempting to frame them exactly as they were originally photographed. All of the new imagery has been converted to black and white to highlight what’s different and what has managed to survive after decades of frantic industrialization.

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The result is a series called Time Travel in China, creating pairs of images that Venkatraman likens to a ‘spot-the-difference’ game. Agricultural fields become towns, skyscrapers shoot up into the air, bridges stretch across waterways, dirt roads are paved, infrastructure becomes more complex.

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Yet not only do the contours of the land and the silhouettes of the mountains remain the same, a surprising number of buildings do, too, especially temples and historical structures. In some cases, the only notable shifts in a forty- or even eighty-year period are the vehicles, some lights and a handful of modern towers.

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“When most people travel, they think of traveling in space,” she says. “Whether it’s hiking through a national park or learning about a distant culture, it’s usually about the destination. This time, I decided to travel in time.”

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“It wasn’t always easy to get that perfect angle match,” she continues in a post on PetaPixel. “In some places, the vantage point ended up being in a private location, and in some cases there was a large obstruction or building preventing me from getting the same view. But nonetheless, I managed to capture several shocking contrasts over the past century of Chinese history.”

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80,000 Tiles Tell Story of Amsterdam’s Growth in New Bike Tunnel

22 Mar

[ By Steph in Art & Street Art & Graffiti. ]

bike path tiles

A 361-foot tunnel connecting the historic city center of Amsterdam to its revitalized industrial waterfront district symbolically links past and present with a stunning mural made up of 80,000 tiles. Design firm Benthem Crouwell used iconic Delft blue tiles to paint a picture of a fleet of ships on treacherous seas, taking inspiration from 18th century Rotterdam tile painter Cornelis Boumeester.

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Stretching the entire length of the Cuyperspassage tunnel, which is open only to pedestrians and cyclists, the mural bears a striking resemblance to Boumeester’s depiction of the Warship Rotterdam and Herring Fleet, completed in 1725.

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This traditional view of the Netherlands starts to shift and change the further you walk or bike into the tunnel. The illustrative style starts to get pixelated about halfway through, growing more and more abstract until it’s simply an arrangement of blue-hued tiles.

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It’s a beautiful way to symbolize the growth and change the city has experienced over the past few centuries, with the potential to become as large a part of the nation’s cultural and artistic identity as the work that inspired it.

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Fractal Formations: The Fascinating Future of Urban Growth

19 May

[ By Steph in Conceptual & Futuristic & Technology. ]

Screen Shot 2015-05-18 at 5.06.25 PM

What might the patterns of urban sprawl look like if humanity were to survive another thousand years or so? Artist Tom Beddard envisions fractal formations seemingly cut right into the earth, broken up by the occasional sky-high tower or curving superstructure. The architecture in this futuristic vision entitled ‘Aurillia’ ranges from bleak industrial scenes to incredibly complex city centers, all created using a fractal formula called Mandalay.

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The London-based artist, who earned a PhD in laser physics before moving on to design and web development, used the Fractal-lab tool that he built himself to render the images. Fractals in visual form are generally characterized by obvious patterns, but with this formula, the resulting aerial views have a surprisingly organic look.

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“What I found particularly interesting was the mix of architectural forms that could be found when certain parameter combinations create structural resonances,” Beddard told The Creators Project. “The curved domes are due to the Mandlebox sphere folding effect and the towers result from the different fold scaling of individual axes.”

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We’ve seen some amazing applications of fractals and parametric designs in architecture and furniture designs, from mobile pavilions to fantasy cities, but nothing on quite this large of a scale. Check out aerial views of real-life suburban complexes and you’ll see that these patterns aren’t all that far from the patterns we’re already creating with urban development.

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Modular Cities: 13 Expandable Solutions for Urban Growth

09 Sep

[ By Steph in Architecture & Cities & Urbanism. ]

Modular Cities Seeds of Life 1

As urban populations flourish, cities typically expand outward into suburbia or suffer growing pains with static infrastructure that just can’t keep up. What if, instead, cities were based upon modular structures with virtually no limits as to how much they could grow? These modular urban concepts include developments that hover above LA’s freeway system, Jenga-like towers and pixelated stacks of prefabricated residential units.

Modular Paracity
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A gridded framework made up of basic 6-meter-square wooden structural models can be built out almost endlessly, rising above the ground in flood-prone places like Taipei City and Jakarta. ‘Paracity’ by Marco Casagrande is designed for unrestricted growth by gradually infilling the open column-and-beam lattice framework with dwellings, gardens, roadways, shops, restaurants and more. The idea is ‘self-sustainable bio-urban growth,’ using sustainable technology for water purification, waste water treatment and energy production. Says the designer, “In a sense Paracity is a high-tech slum, which can start tuning the industrial city towards an ecologically more sustainable direction. Paracity is a third generation city, an organic machine, urban compost, which is helping the industrial cit to transform into being part of nature.”

Garden City K66
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The ‘pixelated’ look of this development comes from the seemingly random arrangement of 10×10 modular volumes stacked in a flexible grid that’s interchangeable and adaptable. The modules can for the basis of apartments, offices and other spaces, making it easy to switch out the function of various parts of the community. Public spaces are on the lower levels, and living spaces on the top.

Car-Free Skyvillage Over Los Angeles’ Freeways
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LA’s system of freeways divides the city into separate quadrants, restricting activity to whatever area you happen to live in, hemmed in by the massive and perpetually backed up roads. But what if the city could literally rise above that freeway system? This concept called Skyvillage imagines a Los Angeles that grows vertically, interconnecting above the roads to bring the community together. This would eliminate the need for cars, making it easy for residents to fulfill all of their needs within walking distance. The pillars that make up the building are ‘green filtering towers’ filled with vegetation to counteract the pollution from the freeways.

A New Vision for Egypt’s Garbage City
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The people of Egypt’s so-called ‘Garbage City,’ which processes nearly all of the waste from the enormous city of Cairo, do so with an admirably inventive spirit – but as you might imagine, sorting trash for a living can make for a less-than-pleasant living environment. Mekano Architects came up with a way that actually uses the heaps of waste around the city as an advantage, recycling it as building material for a vertical city. The Seeds of Life skyscraper consists of a series of ‘wind stalks’ that can be stacked with modular homes interspersed with parks, plazas and other public spaces. The ‘wind stalks’ would be topped with mini turbines to collect energy.

Vertical City with Plug-In Houses
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Hexagonal living units are plugged into a primary structure made of reinforced concrete, making it easy to add and remove modules as necessary or group several together into a larger home. Inspired by Le Corbusier’s theory that “a house is a machine for living,” the concept is flexible, easy to dismantle and could be prefabricated and transported to cities anytime growth calls for it.

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Modular Cities 13 Expandable Solutions For Urban Growth

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City Evolution: Watch Urban Growth in 3D Visualizations

18 Jul

[ By Steph in Architecture & Cities & Urbanism. ]

City Growth Maps Main

Watch Manhattan multiply and San Francisco soar into the sky in a series of growth animation videos that show the expansion of cities over more than a century. Created by Calgary-based real estate company Cube Cities, the videos utilize developer-reported data of building construction dates to show buildings pop upon top of city maps.

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3D mapping technology from Google Earth provides the base of the videos, and animations show construction as it occurs through each decade. The videos highlight the busiest decades for growth, which is most visible in New York City during the 1920s, San Francisco during the ’60s and Toronto during the ’70s.

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