Sony and Nikon Say the Camera Market is Booming

Sony and Nikon Say the Camera Market is Booming Thanks to China

According to Sony and Nikon, digital camera shipments are at their highest level since the COVID-19 pandemic began, and China is largely to blame for this boom.

The Camera and Imaging Products Association’s (CIPA) shipment reports from the beginning of August revealed a rise in sales that was directly related to an uptick in international travel. The largest sales increase of any region in the world was undoubtedly achieved by China, which led the way in driving this demand out of all nations with a massive 44% increase in sales.

The value of Japanese camera manufacturers’ exports to China increased year over year by 33.9% to 83.9 billion yen, while the number of units exported increased by 26.7% to 710,000.

According to a report from Newswitch, a According to a Japanese publication, sales in the region significantly outpaced those in Europe and the Americas. China’s camera and imaging market is exhibiting the most obvious signs of recovery. Although China is by far the most obvious success story, all of Asia is actually doing quite well. Japan is also experiencing a significant increase in shipment numbers.

Yoshiaki Tokunari, Director and Senior Managing Executive Officer at Nikon, claims that China is currently driving the industry’s recovery in the camera market, which experienced a significant decline in 2020 as the world struggled to cope with the pandemic.

“The Chinese market is the driving force,” Tokunari says. “Cameras are luxury goods, and their market is expanding as a whole.”

Sony’s president Hiroki Totoki says that sales in China and Asia are particularly strong and that “the camera market is doing very well,” however there remains some concerns over the economic slowdowns in America and Europe. Asia-Pacific nations are exhibiting a demand recovery that neither region is even close to matching.

Japan is doing well, but there seems to be some worry that the growth there is not long-term. Additionally, according to Newswitch, executives are concerned that the economic slowdown in the The situation for the camera market in the US and Europe will only deteriorate. If so, China will become even more apparent as the country that is primarily responsible for the consumption of cameras, which will have an effect on how companies prioritize and market their products internationally.

Read More: Best Sony Camera For Video

Source: petapixel

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