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Posts Tagged ‘Report’

Report: 45% of Leica is up for sale, and Zeiss is interested

05 Aug

Reuters is reporting that investment group Blackstone is “in talks with potential buyers” in an attempt to sell its 45% stake in Leica Camera, possibly to Zeiss. The other 55% of the company is owned by the Kaufmann family, who brought in Blackstone as a co-investor in 2011.

The report cites “people close to the matter,” who claim the investor has already teamed up with an investment bank and “held talks” with potential buyers, although the process hasn’t entered the bidding stage yet. Potential buyers include Zeiss and, more speculatively, Huawei, neither of whom would comment on the matter. However, Reuters’ sources said Zeiss would only be interested if it could acquire a majority stake in the company, something the Kaufmann family might not go for.

Speaking with Reuters, Leica chairman Andreas Kaufmann said his family “has long-term goals with Leica Camera,” long term meaning a 100-year timeline.

Last year, there was some talk of Chinese investor CDH buying out Blackstone’s stake in Leica, but no deal was struck. But it’s a new year, and Blackstone could earn a pretty penny for selling its stake in Leica. According to Reuters, the iconic camera brand is expected to report earnings “of roughly 70 million euros” this year at a valuation of around 700 million euros, or approximately $ 828 million USD.

You can read the full report at this link.

Articles: Digital Photography Review (dpreview.com)

 
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Report: Bowens employees not paid for July, told they must continue to work unpaid

04 Aug

A bombshell of a report on PetaPixel reveals just how sudden last month’s closure of 94-year-old UK photographic lighting company Bowens has been, especially for its employees. An infuriated UK employee reached out to the photography blog to share their story, and the whole workforce of Bowens China has sent an email to the company to complain about how the process is being handled.

The UK employee, who wished to remain anonymous, expressed anger at how the liquidation has been handled, specifically citing issues with pay. According to them, “26 of the most hard working members in the UK […] were in complete shock [on July 14th] to be informed that they will be unpaid for the previous month, and will have to continue to work through a consultation process unpaid.”

The employee claims the UK crew was told they would have to continue working because they are bound by contract. Staff are reportedly considering legal action.

These claims are backed up by an email sent to Bowens and Calumet distributors by the workforce of Bowens China, and acquired by PetaPixel.

The letter claims employees of Bowens Suzhou were “suddenly abandoned” with “no July wages, no social insurance, [and] no updated information since Germany let us stop work [on the] 17th July.” The employees took to the streets and the German embassy to protest what they’re describing as “dishonest betrayal” and “bloody exploitations” by Aurelius and Calumet.

For their part, Calumet did respond to PetaPixel’s request for comment. The company sent a statement in which it re-states the reasons for closing Bowens (“the result of far reaching changes affecting its market”) before addressing the concerns in China, saying:

“As part of the decision to discontinue its operations Bowens consequently also decided to discontinue the manufacturing operations in China […] The liquidation process is handled according to all local laws and requirements and the employees will be informed in due course on next steps.”

You can read Calumet’s full statement on PetaPixel. However, DPReview has reached out to Calumet for comment as well, specifically asking Calumet to address the claim that employees were not paid for July and are contractually bound to continue working without pay.

We will update this post if and when we hear back.

Articles: Digital Photography Review (dpreview.com)

 
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Sony financial report tops estimates thanks to smartphone sensors and earthquake recovery

02 Aug

The fortunes of Sony’s camera division have taken a turn for the better with a rise in first quarter sales and operating income for the period to June 30th. The company states in its latest financial report that higher value still and video cameras have helped it to achieve 27.3% year-over-year growth; however, that figure is inflated in part because the business was suffering the crippling effects of the Kumamoto earthquake this time last year.

Insurance payments from the earthquake have also artificially boosted operating income in both the camera and sensor businesses, with a 15.7 billion yen increase to 23.2 billion (an increase of 209%) in the camera sector and more than 41% growth in income for the sensor business compared to last year, thanks to booming smartphone sensor sales.

In fact, according to Bloomberg, as many as half of the world’s phones currently house Sony sensors. When you multiply that by as many as three sensors per phone—dual cam on the back, one on the front—you begin to understand that 41% growth figure.

Forecasts for the fiscal year ending March 2018 have been revised upwards for the imaging business, with sales expected to hit 650 billion against this year’s 579 billion. Sales of semiconductors are also expected to grow from this year’s 773 billion to 860 billion yen.

For more information see the Sony financial report on the company website.

Extracts from report:

Imaging Products & Solutions (IP&S)

Sales increased 27.3% year-on-year (a 26% increase on a constant currency basis) to 155.6 billion yen. This significant increase in sales was mainly due to the absence of the impact from the 2016 Kumamoto Earthquakes in the same quarter of the previous fiscal year as well as an increase in unit sales and an improvement in product mix reflecting a shift to high value-added models, both in Still and Video Cameras.

Operating income increased 15.7 billion yen year-on-year to 23.2 billion yen.
This significant increase was mainly due to the impact of the above-mentioned significant increase in sales, partially offset by an increase in selling, general and administrative expenses. Operating income for the current quarter included the above-mentioned 2.6 billion yen in insurance recoveries related to the 2016 Kumamoto Earthquakes. During the current quarter, there was no material impact from foreign exchange rate fluctuations.

Semiconductors

Sales increased 41.4% year-on-year (a 38% increase on a constant currency basis) to 204.3 billion yen. This increase was primarily due to a significant increase in unit sales of image sensors for mobile products, as well as the absence of the impact of a decrease in image sensor production due to the 2016 Kumamoto Earthquakes in the same quarter of the previous fiscal year, partially offset by asignificant decrease in sales of camera modules, a business which was downsized.

Operating income of 55.4 billion yen was recorded, compared to an operating loss of 43.5 billion yen recorded in the same quarter of the previous fiscal year. This significant improvement in operating results was primarily due to the impact of the above-mentioned increase in sales, the above-mentioned 27.5 billion yen gain resulting from the sale of the entire equity interest in SEH, and 6.7 billion yen in insurance recoveries related to the 2016 Kumamoto Earthquakes, as well as the absence of the 20.3 billion yen impairment charge against long-lived assets for camera modules and the net charges of 13.6 billion yen for expenses resulting from the 2016 Kumamoto Earthquakes recorded in the same quarter of the previous fiscal year. During the current quarter, there was a 2.5 billion yen positive impact from foreign exchange rate fluctuations.

Articles: Digital Photography Review (dpreview.com)

 
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Report: Ricoh announcing cost cuts in face of crisis

20 Jun

According to a report by Nikkei Ricoh is facing its biggest crisis ever and will have to cut costs in order to survive. Ricoh’s Imaging and Solutions division, which predominantly produces printers and accounts for 90% of Ricoh’s consolidated sales has been struggling the most. Nikkei reports that ‘Ricoh is staring at huge losses as the market for multifunctional printers, Ricoh’s cash cow, evaporates and its global sales network racks up high costs.’

In light of this situation Ricoh’s new President and CEO, Yoshinori Yamashita, has set a target of reducing costs by 100 billion yen ($ 912 million) through March 2020. He is also quoted as saying that the company’s new policy is to rid itself of the ’emphasis on market share above all else.’

According to the report the lion’s share of the cost cuts will be realized in Ricoh’s global sales and services network which comprises of more than two-thirds of the company’s 100,000 global employees. At this point it is not clear if and how Ricoh’s imaging brands, such as Pentax, the Theta 360 degree cameras or the R Development kit live-streaming VR camera will be impacted by the cost reductions. When Nikkei reported earlier this spring that Ricoh was considering leaving the camera business, Ricoh denied that it was considering such a move.

Articles: Digital Photography Review (dpreview.com)

 
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Fujifilm earning report indicates strong sales of X-series, lenses and GFX 50S

13 Jun

Fujifilm’s earnings report for the fiscal year ending in March has been published and contains some interesting information on the company’s line of consumer imaging products. Sales figures of both X-Series cameras and lenses and the GFX medium format system have increased, according to the report.

‘The business of electronic imaging achieved a sales growth due to positive sales of the X-Series of mirrorless digital cameras such as FUJIFILM X-T2 and FUJIFILM X-T20 as well as their interchangeable lenses, and strong sales of the FUJIFILM GFX 50S, a medium-format mirrorless digital camera equipped with a large sized sensor, released in February.’

Overall, the sales of the company’s Imaging Solutions division decreased 3.2% from 352.9 billion Yen to 341.8 billion Yen due to the negative effect of the appreciation of the Japanese Yen in the foreign exchange market. However, operating income went up by 15% from 32 to 36.8 billion Yen, thanks to the sales expansion of digital cameras mentioned above, an increase in sales of high-end instant photo systems and improved profitability in various business categories.

The company is projecting a 2.4% increase in revenue over the next fiscal year for the Imaging Systems business, from 341 billion to 350 billion Yen, with operating income up nearly 17%.

You can read the annual report for yourself here [PDF].

Articles: Digital Photography Review (dpreview.com)

 
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Ricoh denies Nikkei report that it may leave camera business

14 Apr

Ricoh has issued a response to a report from the Nikkei Asian Review, denying that the company is considering leaving the consumer camera business. Ricoh’s statement says that it will focus its attention on ‘high added value products’ in its Pentax and GR lines. Additionally, the company says it plans to keep expanding its VR business, where it sees plenty of growth.

Nikkei’s article suggests the company considered, or is considering, a more drastic approach:

‘The Japanese company will radically review a production and manufacturing strategy centered on cameras for the retail market, including such brands as Pentax and GR. Options include withdrawing from this segment altogether.’

An investor relations presentation published by Ricoh today only directly mentions the company’s camera division once, indicating that Ricoh will ‘leave no stones unturned’ in examining losses in its camera business. But the overall tone of the document indicates that the company is looking to break from past approaches to structure and growth.

The Nikkei article and Ricoh’s statement seem to be in agreement that the company is looking to expand into commercial applications. Nikkei mentions that Ricoh plans to use spare capacity at compact camera production facilities to increase production of automotive products.

Below is Ricoh’s full statement addressing the article:

With regard to the article about RICOH today

Apr. 12, 2017
Ricoh Co.,Ltd.

Today there was an article saying that RICOH considers to shrink the camera business and withdraw from consumer products. This article is not based on RICOH’s official announcement.

RICOH is focusing its resource on the high added value products such as PENTAX and GR that are appreciated by the existing users and photo hobbyists. RICOH is also a market leader of input device? in the VR or AR market with its “RICOH THETA” where we can see rapid growth, and will keep on expanding the business even more in this field. In addition, RICOH will develop and expand the imaging business in the solution business field for corporate, by creating new market utilizing its own camera technology.

Articles: Digital Photography Review (dpreview.com)

 
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iPhone 7 Plus owners report overheating and black screen camera issues

30 Dec

Some iPhone 7 Plus owners are reporting camera issues including streaks of color on images, a completely black screen instead of an image preview, and a warning that the iPhone needs to cool down before the camera can be used (despite no signs of overheating). Some affected owners state Apple replaced their iPhone or, in some cases, just the camera module.

Reports of these issues can be found on social media sites and Reddit, where they date back several weeks. The issues appear to be hardware related, as they’ve persisted despite recent iOS updates. Affected users should take their iPhone to an Apple Store for servicing or replacement. It doesn’t appear any official workarounds have been provided.

Via: TechTimes

Articles: Digital Photography Review (dpreview.com)

 
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DxOMark image quality test report released for Huawei Mate 9

24 Dec

The Mate 9 is Huawei latest flagship smartphone and comes with a Leica-powered dual-camera that combines a 20MP monochrome sensor with a 12MP RGB chip. Image data from both sensors is combined for optimized image quality.

The test engineers at DxOMark have now put the new technology through its paces and with a score of 85 the Mate 9 performs respectably but cannot take one of the top spots. It slots in at a joint 12th position, just behind the LG G5 and iPhone 7. It shares this spot with the LG V20, which was also recently added to DxO’s mobile rankings.

In still image mode the testers liked the good detail preservation, accurate white balance and good exposure of the device but deducted points for inconsistent color in cloudy conditions, color casts with flash use and some ghosting artifacts. Video footage also showed good detail and exposure and was well-stabilized. On the downside, there is a noticeable jello effect when recording while walking and visible noise and reduced detail in low light. You can read the full report on DxOMark.com.

Articles: Digital Photography Review (dpreview.com)

 
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Olympus E-M1 owners report firmware 4.2 bugs

04 Dec

Olympus OM-D E-M1 owners are reporting issues using their cameras after updating to firmware version 4.2. Forum member Denjw reports problems with focus stacking and corrupted image files after updating to 4.2, echoing comments from German blogger Pen-and-Tell. Firmware 4.2 in part added support to the E-M1 for focus stacking with the 300mm F4, 8mm F1.8 fisheye and 7-14mm F2.8 Pro lenses. We’ve reached out to Olympus for comment and will update this story with any further information.

Articles: Digital Photography Review (dpreview.com)

 
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LG V20 owners report fragile, easily cracked camera glass

26 Oct

Numerous reports have surfaced from LG V20 owners claiming that the glass covering the smartphone’s rear camera is easily shattered. In some cases, the glass reportedly breaks without any direct impacts, leading some to speculate that the LEDs may be the cause. Some users report receiving a new phone with glass that’s already cracked, while others indicate it cracks after only several hours or days of use.

In addition to user reports on Reddit, smartphone durability tester ‘JerryRigEverything’ experienced the same issue. The glass camera covering is shown shattering in the video below a few moments after he rubs it with a pick to test its durability against scratches. LG has not issued a comment on the reported issue. For now, users are advised to keep the protective film covering on the camera glass in an effort to avoid cracks.

Via: TechTimes

Articles: Digital Photography Review (dpreview.com)

 
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