Fujifilm posted their Q1 financial results:
- Imaging Solutions consolidated revenue is down 33.2%
- Consolidated operating loss amounted to ¥3.0 billion
In the photo imaging business, a decrease in demand for color paper and the spread of COVID-19 pandemic resulted in a decline in revenue. With regard to the instant photo system that provides the on-the-spot printing of photos, we launched the instax mini 11 worldwide in March 2020, which is the latest entry-level model particularly popular globally with Automatic Exposure mode added for the first time. In May 2020, “Sketch, edit & print” feature is newly added to the dedicated app for the instax mini Link smartphone printer, enabling users to import and add sketches and text to photos saved on a smartphone and print them. We are expanding online sales by effectively promoting a new way of enjoying instax at home on Social Networking Service. Also, in April 2020, “Personalized Select” and “Personalized Layout” features are added to the Year Album, a photo book service, that select and lay out photos automatically according to each person’s preference based on personalized shooting tendency by using AI and past order information. We will continuously provide the traditional photographic values of “shooting, preserving, displaying, and gifting”, as well as delivering innovative user-friendly products and services, meeting diversified demand of consumers.
In the electronic imaging field of the optical device and electronic imaging business, temporary closure of retailers and less opportunities to take photos due to the COVID-19 pandemic resulted in a decline in revenue. The sales of FUJIFILM X100V, a high-end model of compact digital camera launched in February 2020 and FUJIFILM X-T4, a mirrorless digital camera highly known for its high-speed AF and high video performance, launched in April 2020, are steadily increasing, despite the digital camera industry is facing severe challenges. We will continue providing value-added products and revitalizing the market, along with sharing the joy of taking photos.
In the optical device field, revenue decreased, reflecting a decline in demand for broadcast and cinema lenses, as well as reduced sales in vehicle-mounted lenses due to stagnation in automotive industry. With an aim to accelerate business growth, we are expanding business fields by developing and launching innovative products that satisfy changing needs of the market, such as ultra-short throw projectors and long throw security cameras.
Q1 financial results from other companies:
- Fujifilm Imaging Solutions: revenue down 33.2%
- Nikon Imaging Business: revenue down 63%
- Olympus Imaging Division: revenue is down 40%
- Canon Imaging Division: sales: -30.8%, profit: -93.8%
- Sony camera sales: more than 50% down
Via FujiAddict
