Well this is interesting

[smoke665]

According to a released report by Japan Camera Industry Association (JCIA), By the end of the 2024 fiscal year, the modern Big Five—ranked by camera-and-lens revenue—look like this:

• Canon Inc. - ¥937.4 billion
  Imaging Systems Division: cameras + lenses (sec.gov + global.canon + cined.com).
• Sony Group (Minolta legacy) - ¥609 billion
  Photo and video cameras within the ET & S segment.
• Fujifilm Holdings - ¥540 billion
  Imaging Solutions (Instax + X/GFX).
• Nikon Corporation - ¥295.4 billion
  Imaging Products Business (Z-series).
• Ricoh Imaging - ¥35.8 billion

 

[cgw114 140]

They might all look back fondly on those numbers after the likely effect of the tariff downdraft by late 2025.

 

[VidThreeNorth]

What I find interesting is that the CIPA numbers show year over year increases of interchangeable lens bodies and lenses up to June 2025. Relatively steady growth in unit sales. It looks to me like the industry is about as healthy as has been typical.

 

[gk fotografie2 1]

According to a released report by Japan Camera Industry Association (JCIA), By the end of the 2024 fiscal year, the modern Big Five—ranked by camera-and-lens revenue—look like this:

• Canon Inc. - ¥937.4 billion
  Imaging Systems Division: cameras + lenses (sec.gov + global.canon + cined.com).
• Sony Group (Minolta legacy) - ¥609 billion
  Photo and video cameras within the ET & S segment.
• Fujifilm Holdings - ¥540 billion
  Imaging Solutions (Instax + X/GFX).
• Nikon Corporation - ¥295.4 billion
  Imaging Products Business (Z-series).
• Ricoh Imaging - ¥35.8 billion

It's a good thing none of these companies rely solely on cameras and lenses, because the results seem substantial, but aren't exactly impressive.
A sum of 900 billion yen is roughly 6 billion dollars, or 5 billion euros. Keep in mind that this (in all likelihood) represents gross revenue, not net profit, which is hardly worthwhile for these companies.

For example, consider a Dutch company like ASML, with over 28 billion euros in revenue and a whopping 7.6 billion euros in profit (!), or a company like Heineken with a turnover of 36 billion euros. I'm not particularly impressed. Let's hope that Canon, Nikon, Fujifilm, etc., can all keep their photographic products divisions intact in the coming years.
Incidentally, as I recently read, there's a good chance that these Japanese companies will export significantly less to the US in the coming years, resulting in camera prices in the US skyrocketing, while in Europe, among other places, prices will actually drop sharply due to the increased supply of Japanese cameras, which is actually quite welcome.

Ordinary American citizens probably haven't fully grasped it yet, but they'll ultimately be paying the price for the enormous import duties imposed by 'big-mouthed Oedipus' if that's not already the case.

 

[smoke665]

Incidentally, as I recently read, there's a good chance that these Japanese companies will export significantly less to the US in the coming years, resulting in camera prices in the US skyrocketing, while in Europe, among other places, prices will actually drop sharply due to the increased supply of Japanese cameras, which is actually quite welcome.

Market share data on camera equipment is all over the board, so finding reliable data is difficult. I've seen estimates of 6-7 billion in the US and 3-4 billion in the European market. From what I've read the US market is expected to grow by over 3% (over12B by 2030) while the European market is predicted to be less than 1%, so I'd think it would be highly unlikely the Japanese will abandon this market. As to any tariff effect, in reality, they've been less than expected on the consumer, with much of the cost being absorbed by retailers, distributors and manufacturers. Now that the US has inked a trade deal with Japan which sets tariffs at a reciprocal 15%, and brings substantial investment from Japan in the US it will be pretty much business as usual. Another side note to the tariffs is the talk that a "rebate" of sorts to US taxpayers from tariffs revenue may be in the works. Money giveaways equal spending.

 

[gk fotografie2 1]

American importers will all pay the bill for the 15% higher prices manufacturers will charge, and importers will pass these higher prizes on to American consumers, or don't you think so? So, in the end, there's zero revenue from tariffs, let alone any revenue that will be distributed among American taxpayers! Plenty of manufacturers worldwide will largely ignore the US market in the coming years, especially if the percentages suddenly go up again. But, enough of this, keep believing in fairy tales; perhaps, once Trump is gone, they might just come true, who knows...

Market share data on camera equipment is all over the board, so finding reliable data is difficult. I've seen estimates of 6-7 billion in the US and 3-4 billion in the European market. From what I've read the US market is expected to grow by over 3% (over12B by 2030) while the European market is predicted to be less than 1%, so I'd think it would be highly unlikely the Japanese will abandon this market. As to any tariff effect, in reality, they've been less than expected on the consumer, with much of the cost being absorbed by retailers, distributors and manufacturers. Now that the US has inked a trade deal with Japan which sets tariffs at a reciprocal 15%, and brings substantial investment from Japan in the US it will be pretty much business as usual. Another side note to the tariffs is the talk that a "rebate" of sorts to US taxpayers from tariffs revenue may be in the works. Money giveaways equal spending.

 

[smoke665]

@gk fotografie just a word of caution forum guidelines state:

"No general politics are allowed. If the political discussion involves photography, it may be allowed. Use common sense when posting anything of a political nature"

As such my comments are going back on post. I don't believe in fairy tales or unsubstantiated opinions. I will say there has been significant shuffling of manufacturing locations as companies adjust to varying tariff disputes, to limit the effect. Also, how actual market prices are affected by outside influences isn't always clear, in the case of "new model" releases, camera manufacturers typically use surge pricing, which eventually settles to lower prices once the newness wears off. Here's a good example the Nikon D850 was released in 2017 at a price of around $3300, B&H shows it now for $1896.

 

[VidThreeNorth]

Looking at CIPA numbers for camera sales 2025, it looks like the 2nd quarter was good, but the 3rd quarter fell off a bit (the 2nd quarter sales might have been caused by the anticipation of the new US tariff levels -- US specific numbers were NOT separated). With announcement of late-coming models, it will be interesting to see how things go this year. Normally, the 4th quarter falls off, but this year, it might not

3rd Quarter Shipments of DSC (digital still cameras) Worldwide:
NOTE: "Shipped" cameras were from Mfr to Distributors and do NOT represent "end user sales" directly.

2025
Apr 790,897 (123.3% over 2024)
May 991,996 (122.6% over 2024)
June 834,497 (119.0% over 2024)

July 887,231 (108.2% over 2024)
Aug 686,030 (91.4% over 2024)
Sep 851,641 (102.3% over 2024)

 

[Don Fischer]

So how come company's like Canon and Nikon don't simply open plants in this country using American labor to make their cameras? I'm not sure there is any company in America building high end cameras.

 

[cgw114 140]

So how come company's like Canon and Nikon don't simply open plants in this country using American labor to make their cameras? I'm not sure there is any company in America building high end cameras.

Because they can count...

once upon a time in Canada | phsc.ca

 

[smoke665]

how come company's like Canon and Nikon don't simply open plants in this country using American labor to make their cameras

Greed and regulations. I saw first hand the mass exodus of manufactures with the signing of NAFTA in 92. Mexico offered cheaper labor, but the biggest advantage was the expense of regulations and taxes. Similar disparities with Asian countries made it more advantages to manufacture in those countries.

A prime example was textiles. In the 80's my company was transporting 1000s of loads of cotton from AL, AR, GA, MS, LA to mills in GA and the Carolinas. We'd pick up processed cotton and transport to textile plants, pick up cloth and transport back to clothing factories in the south. When NAFTA came in the cotton went to the ports, the mills here dried up, and it wasn't long before the clothing factories closed. We became a third world producer of raw goods, and generations of families that had worked at these places were out of jobs.

Part of the blame also lies with American manufacturers greed and complacency. Despite the overwhelming regulations and higher costs of labor, foreign companies are not only building plants here but thriving. In our state we have 4 foreign auto manufacturers building cars. Thier attention to detail and manufacturing methods work.

 

[cgw114 140]

Import substitution-vs-political "talking point." One is complex, expensive and time-consuming; the other is mostly outgassing. No country is capable of on-shoring current iPhone production webs. It's autarky-proof.

 

[VidThreeNorth]

So how come company's like Canon and Nikon don't simply open plants in this country using American labor to make their cameras? I'm not sure there is any company in America building high end cameras.

I've posted factory tour videos in recent years and it's pretty clear that lenses in particular need a lot of human intervention. Grinding and polishing are "largely" automated, but conformity checks are done at a lot of stages, and that is still a judgement call. I think I have seen camera body manufacturing by Sigma -- search the forum for it. I don't think I've mentioned it, but I have done factory type work for automotive engine rebuilding. I've done head stripping, camshaft grinding, valve cleaning and re-grinding and cylinder re-boring, and more. There are "judgment calls" that have to be made all over the place. The camera stuff looks pretty straight forward, but I'll bet there are more "judgment calls" -- particularly in the early runs, than you might expect.

I just checked. I posted a link to a video showing Sigma FP camera body manufacturing some time ago. Again, it shows the smooth working of the factory. What I'm saying is that I'll bet things don't always go so smoothly, and there are probably still "judgement calls" involved.

 

[greybeard31 4]

So how come company's like Canon and Nikon don't simply open plants in this country using American labor to make their cameras? I'm not sure there is any company in America building high end cameras.

INMO, Canon/Nikon/etc. can make more money by doing things the way they are doing them. When it becomes more profitable to open factories in the US then they probably will.

 

[Don Fischer]

INMO, Canon/Nikon/etc. can make more money by doing things the way they are doing them. When it becomes more profitable to open factories in the US then they probably will.

Good point!