As the US reaches new trade agreements, reports indicate that multiple camera brands could be planning another price increase for September 1, one month after increased tariff rates went into effect for many nations.
According to a report by Photo Rumors, Canon, Fujifilm, and Nikon are planning a price increase that takes effect in the US on September 01.
The brands have not confirmed nor commented on the rumors directly. However, the report comes as several regions are facing higher tariffs than when the price increases first started. The so-called reciprocal tariff rates were previously paused at 10 percent. But as of August 01, Japan’s rates increased to 15 percent and Thailand's to 19 percent. UK tariff rates remain at 10 percent, and Trump has now extended a 55 percent pause on tariff rates from China.
While the reports of a September 01 price increase are still unverified, a number of camera brands have indicated during earnings calls with investors that the increased tariff costs have a significant impact.
During an earnings call with investors in July, Canon indicated that the increased tariff costs would be addressed by both reducing costs and raising prices. In a Q&A at the time, Canon estimated the increase on tariff rates from 10 to 15 percent for Japan would increase costs between 15 and 16 billion yen ($101 million to $108 million in USD).
“We are currently considering how to respond to this cost increase, including passing this on through price increases,” Canon wrote. “Rather than applying price increases evenly, we will consider this on an individual product basis, taking into account product competitiveness.”
In an earnings call earlier this month, Nikon projected declining profits despite strong sales numbers in the imaging division, due in part to the tariff rates. Nikon’s previous price increase only included lenses; however, the company manufactures its cameras in Thailand, which is now facing a higher 19 percent tariff rate.
During Fujifilm’s last earnings call, the company indicated an anticipated six billion yen tariff cost, with that number coming even after adjustments to the supply chain and cost reductions.
Canon, Fujifilm, and Nikon have already increased the list prices on some products; reports predicting another price increase would be a second increase in addition to the pricing changes that have already been implemented.
The list of imaging companies that have already increased prices due to US tariffs also includes Sony, Leica, and Sigma. Sigma has indicated that, after increasing US list prices for the initial 10 percent tariff increase, the company wasn’t planning another increase now that the import tax rate for Japan is at 15 percent.
The list of major camera companies that have increased prices in the US largely misses key Micro Four Thirds brands. Panasonic recently adjusted the price of a compact camera but has not yet adjusted list prices for mirrorless cameras in the US. OM System indicated in a statement to Digital Camera World that it is continuing to monitor the tariff situation.
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