Imaging giant Nikon is expecting a drop in camera sales, which hits at the same time that the camera maker's costs are increasing in part due to the AI-driven memory crisis. In Nikon’s latest financial report, the camera maker shared that camera sales are down for the first three months of the fiscal year.
The report suggests that Nikon sold 910,000 interchangeable lens cameras over the past three months, along with 1.3 million lenses. But, as the camera giant posted a -7.1 percent drop in revenue and a three percent drop in operating profit over the same time last year for the imaging division, the company also revised the predictions for the rest of the year, dropping expectations for camera sales by 300,000.
Nikon says much of that drop is due to the camera market in general, and in particular, reduced demand in China. However, the company says that expectations for long-term demand for interchangeable lens cameras remain more solid over the long-term.
But, the slight downtrend comes as several camera manufacturers are facing rising costs due to the demand for memory created by AI data centers. Nikon isn’t excluded from the effects of those higher costs and expects operating profit to decline as a mixed result from lowered sales volumes and higher memory costs.
Nikon has yet to introduce a new mirrorless camera in 2026 – but the brand is far from the only major player in the industry with a quiet first half of the year, as Fujifilm and OM System also haven’t had major mirrorless launches yet in 2026.
Nikon has, however, launched two new lenses in 2026 so far: the Nikon Z 24-105mm f/4-7.1 and the Nikon Z 70-200mm f/2.8 VR S II. Nikon also shared that a Z 120-300mm f/2.8 TC VR S is in development, but that telephoto with a built-in teleconverter has yet to officially debut in stores.
While Nikon’s launches have been quiet so far in 2026, the rumors have not. Nikon fans have been quick to point out the age of the Z7 II (2020), Z9 (2021), and Z30 (2022).
But, Nikon’s own medium-term plan had some hints, as Nikon says it plans to “strengthen proposals focused on enhanced core performance and emotional value, including heritage-inspired design.” Those last three words have led to speculation on more Zf-like retro cameras.
Cameras aren’t Nikon’s only business, but the imaging division was responsible for 44 percent of Nikon’s quarterly revenue, the highest percentage out of all of the company’s different divisions. While imaging was down in both revenue and profit for the first quarter compared to the previous year, Nikon overall shared a 3.8 percent increase in revenue, but flat performance in operating profit due to higher costs.
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