Nikon announces record results

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By  Published  December 1, 2006

Digital imaging giant Nikon has more than doubled its net profit year-on-year in the six months to September, as a result of strong demand for its expanded digital camera range. The company reported net profit of US$197 million, up from US$80 million a year earlier. It has increasingly turned its focus to the highly lucrative digital-SLR market, in a bid to shore up its earnings in the sector. Like many of its rivals, it also recently halted development of its conventional film-based camera range. The company reportedly sold 860,000 digital SLR cameras in the six-month period, up from 790,000 units the year before. It also reportedly sold around 3.4 million compact digital cameras – a similar result to the previous corresponding period in 2005. Nikon chief financial officer Ichiro Terato told reporters that the company no longer sought large volume sales of compact digital cameras at the expense of profitability. He added that the company expected full year net profit to reach a record US$385 billion, representing a 55% increase on 2005, with revenue rising 9% to US$6.8 billion. Meanwhile, archrival Canon reported a 20% rise in Q3 operating profit, which it largely attributed to rising consumer demand for its digital SLR camera range.

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