Nikons Forcast Lowers Sales in 2009

It looks like Nikon is expecting a slowdown in camera sales in 2009 with lower prices coming from their competator. Again with all companies around the world - there will be cost cutting, let's hope it's not in innovation.

Here''s what they say in their first half finanical report ending 30th Sep 08
"In the market of digital cameras the increasing adverse effects of the global recession on personal consumption cannot be disregarded, and the market growth is expected to slow with intensifying price competition."

For the purpose of realizing "Strong Nikon" and a "Truly Excellent Company" able to make a continuous growth even under the severe market conditions as currently imminent, the Nikon Group is aware of a crisis and try to be prompt and precise in management and, at the same time, promote the enhancement of product competitiveness and cost reduction and try to realize our new vision formulated last year, "Our Aspiration: Meeting needs. Exceeding Expectations."