Nikon annual report: $262 million losses, but new Z mount lenses promised

(Image credit: Nikon)

Life has its ups and downs, as they say. Unfortunately for Nikon, though, it's been solid downs in recent years. The giant has just published its Annual Report for the financial year 2020-21, and it makes sobering reading. 

According to the report, Nikon's Imaging Division has been hugely under pressure in the face of declining demand for cameras and lenses, as the focus of photography shifts towards camera phones, and as competition with rivals intensifies. 

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Tom May

Tom May is a freelance writer and editor specializing in art, photography, design and travel. He has been editor of Professional Photography magazine, associate editor at Creative Bloq, and deputy editor at net magazine. He has also worked for a wide range of mainstream titles including The Sun, Radio Times, NME, T3, Heat, Company and Bella.