Fujifilm's CEO is crowing that "the photography business was stagnant… but I found a new gold mine". So what is it?
Teiichi Goto, president and chief executive officer of FujiFilm Holdings(Image credit: Shoko Takayasu/Bloomberg via Getty Images)
Fujifilm is doing well. Real well. So well, in fact, that its president and CEO is bragging that he has "found a new gold mine".
It's well known that the camera industry has been in decline for years, but Fujifilm has been bucking the trend by finding great success where others have seen struggle. Indeed, not just success but growth.
"The photography business was a stagnant business, but I found a new 'gold mine'," Teiichi Goto, Fujifilm's head honcho, told Japanese business daily Nikkan Kogyo Shimbun.
So then, what is this gold mine that the manufacturer has discovered?
According to the newspaper, Fujiflilm "shows signs of success. The operating income of the Imaging segment in fiscal 2022 is expected to double to ¥72.9 billion [approximately $521.3 million / £421.8 million / AU$804.5 million] compared to the previous fiscal year.
"The company's Imaging segment includes the instant camera 'Cheki' and the digital camera 'X series'. In particular, it seems that the promotion of digitization, starting with the smartphone printer 'Link Series', contributed to the increase in earnings."
Get the Digital Camera World Newsletter
The best camera deals, reviews, product advice, and unmissable photography news, direct to your inbox!
Cheki is the name of the Instax brand in Japan – and it is this segment in specific that has bucked the collapse of the camera market over the last however many years.
However, while it was well known the best instant cameras have been a huge success for Fujifilm, this confirms that the best portable printers are also doing gangbusters business.
So, the question is… given that Instax cameras and printers are such a gold mine for Fujifilm, when are we finally going to see a successor to the Instax Wide 300?
Fujifilm's Instax Link printers appear to be a license to print money (Image credit: James Artaius)
The editor of Digital Camera World, James has 21 years experience as a journalist and started working in the photographic industry in 2014 (as an assistant to Damian McGillicuddy, who succeeded David Bailey as Principal Photographer for Olympus). In this time he shot for clients like Aston Martin Racing, Elinchrom and L'Oréal, in addition to shooting campaigns and product testing for Olympus, and providing training for professionals. This has led him to being a go-to expert for camera and lens reviews, photo and lighting tutorials, as well as industry news, rumors and analysis for publications like Digital Camera Magazine, PhotoPlus: The Canon Magazine, N-Photo: The Nikon Magazine, Digital Photographer and Professional Imagemaker, as well as hosting workshops and talks at The Photography Show. He also serves as a judge for the Red Bull Illume Photo Contest. An Olympus and Canon shooter, he has a wealth of knowledge on cameras of all makes – and a fondness for vintage lenses and instant cameras.
