**Impact of Tariffs on Sony, Nikon, and Canon’s Financials in 2024**
Amid ongoing trade uncertainties and tariffs, I was curious to examine how Sony and Nikon have performed financially this year, especially in comparison to Canon. Given that Canon provided detailed insights into their financials earlier, it’s interesting to see whether Sony and Nikon faced similar challenges and how well they planned to mitigate the issues related to camera shipments.
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### Canon’s Financial Performance Recap
Previously, we discussed Canon’s financials in detail. Canon posted increases in sales but experienced a decline in operating profit due to additional fees, which lowered its profit margins. Despite these challenges, Canon maintained a positive outlook, expecting net sales to increase for the year.
Focusing on the Imaging Group, Canon reported strong sales growth in entry-level interchangeable-lens cameras, particularly models like the EOS R50 and EOS R100, with notable performance in China and Asia. Compact camera sales also expanded, fuelled by increased production responding to strong demand. Overall, camera net sales rose by 5%, and network camera sales increased by 8%, leading to an overall 5.9% increase in Imaging Group net sales.
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### Nikon Financials
Turning to Nikon, the decline compared to its past performance is quite striking. Both revenue and profit declined from last year’s third quarter. However, this was anticipated, and importantly, Nikon managed to exceed their projections for this quarter.
Interestingly, Nikon’s unit sales increased to 480,000 units from 410,000 units in the same quarter last year. This raises a question as to why net revenue slipped despite higher shipments. The likely explanation is a shift in their product mix, favoring less expensive cameras and lenses than initially planned.
Looking ahead, Nikon expects its full fiscal year net revenue and operating profit to fall slightly compared to the previous year. Despite this, they forecast a 12% increase in camera shipments for the year.
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### Sony’s Financials
Unlike Canon and Nikon, Sony has been less transparent in breaking down its imaging sales, making it challenging to gauge how well their cameras and systems are doing in the market.
Sony reported a 7% decrease in overall sales, attributing this decline primarily to unit sales in display segments rather than imaging. However, when discussing operating income, Sony noted decreased sales and operating profits in imaging, specifically citing tariffs as a contributing factor.
Based on this, it’s reasonable to assume Sony’s camera division has experienced declines in both sales and profits this year. Notably, Sony’s camera division is usually highly profitable, partly due to its cinema line, which is regarded as superior to Canon’s.
Sony also highlighted a downturn in sales in key markets like China and the US, which contrasts with CIPA data indicating solid shipments in China.
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### Outlook
Despite the global trade uncertainties, there doesn’t appear to be any major panic among the leading Japanese camera manufacturers. Increased sales in other regions have helped diversify their business and mitigate the impact of shipping disruptions and tariffs experienced this year.
This resilience is reflected in CIPA statistics, showing year-over-year increases in camera shipments from Japanese companies. Overall, while challenges exist, the major players seem well-positioned to absorb the hiccups and continue their momentum in the camera market.
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https://www.canonrumors.com/nikon-sony-tackle-tariffs-camera-sales-insights-for-2025/
