Pixiq

I smiled when I read the headline, "Canon Hanging on to Mirrors Means Opportunity for Sony and Panasonic." As many readers know, I am a mirrorless cameras avocate here on PIXIQ. I believe that mirrorless cameras are to digital photography what SLRs were to film, a game changer. Years ago I wrote that, "despite the affection of older photographers for their dSLRs, a large (and younger) market will easily adapt to and use these smaller and lighter cameras." But, there have been times when I've felt like a lone prophet in the wilderness; that is until September 7th when Bloomberg News gave support to what I have have been writing about.

Here’s what Bloomberg reported (News, 09-07-2011) in the article entitled, "Canon Hanging on....."

"Canon Inc. and Nikon Corp. , the world’s two biggest makers of high-end cameras, may be missing out on the industry’s biggest technology shift since film rolls became obsolete. The two Tokyo-based companies use mirrors in all cameras with interchangeable lenses, a technique Sony Corp. is shifting away from. As a result, Canon and Nikon’s combined share of the Japanese market has fallen by 35 percent, while Sony’s share has doubled, according to estimates at research firm BCN Inc

Panasonic Corp. and Samsung Electronics Co. are also leaving out mirrors to reduce the size and cost of cameras, with Japanese consumers being among the earliest adopters. Canon and Nikon, under pressure from smartphones in the low-end market, may further undermine their lead in the $6.5 billion market because mirrorless cameras are lighter and take good enough pictures for most photographers, analysts said."

 “Mirrorless cameras are a threat,” said David Rubenstein, a Tokyo-based analyst at MF Global FXA Securities Ltd., who has “neutral” ratings on Canon and Nikon shares. “If the western geographies follow the same pattern as Asia, then it will be negative for Nikon and Canon.”

I live in the South of France and I’ve been surprised at how many Lumix FZ “Superzoom” cameras I see in the hands of European tourists. Its much rarer to see a big Canon or Nikon. Although I’ve owned a complete Nikon dSLR system in the past, with my move to France, I traded in that gear for a Lumix G-1 system with a GF-1 backup that with its pancake 14mm lens is my constant carry camera.

The Bloomberg’s report continues,

“It’s like the difference between automatic and manual transmission in cars,” said Kumio Yamada, a freelance photographer who periodically showcases his work at personal exhibitions. “There is a tug of war going on between traditional camera makers and consumer electronics companies. As camera specialists, Canon and Nikon need to better show what distinguishes their products or they’ll have a difficult time.”

The report says that mirrorless cameras sales rose to 40.5% of the market in Japan— a market seen by many as the canary in the coalmine for the future of the camera industry. That’s up 5 % over the previous year. Globally the sale of mirrorless cameras increased fivefold to 2.1 million units in 2010. Sony’s NEX cameras helped increase Sony’s market share some 15%. These are substantial sales numbers and indicate a trend towards mirrorless gear.

As followers of PIXIQ know there are a lot of mirrorless camera models that will be released in the next few weeks, the Sony NEX-5N , Samsung’s NX200, and Olympus’ PEN E-PL3 as well as the Fuji X10. Panasonic introduced it G3 camera back in July.

But where are Nikon and Canon? Nikon has finished development of its next-generation cameras and according to  Sayaka Suzuki, a Tokyo-based Nikon spokeswoman, “ is considering when it will reveal the product,”

But she declined to say whether there will be a mirrorless model included.

Mirror and prism dSLRs are still big business, Canon SLRs made four times the profit of their company's compact cameras, and Nikon earned more from its SLRs and lenses in the last fiscal year than from any of its other products.

The report goes on to quote a Canon spokesperson who said,

“We acknowledge the importance of making SLRs smaller and lighter to expand the market,” said Takafumi Hongo, a Tokyo- based spokesman for Canon.

But that doesn’t tell us whether they will make a mirrorless camera. 

Whenever I discuss mirrorless cameras, the conversation quickly becomes a VHS vs Beta or a New Coke vs. Classic debate. A debate about the advantages of one product over another.

But the about the capabilities or shortcomings of mirrorless cameras versus SLRs, will depend on other factors. Primarily the state of the world economy. The popularity of mirrorless cameras here in France is due in part to their lightness and flexibility but mostly to their low cost. A Panasonic Lumix FZ48 (FZ45 in the US) with its Leica designed 25-600mm lens, costs about 300 euros. That’s far cheaper than any entry level Canon or Nikon dSLR. With European governments instituting austerity measures to combat their huge debts, people here are nervous and counting every centime they spend.

With its low cost, light weight, easy of operation and high image quality, the future for mirrorless cameras seems bright. I for one hope that Canon and Nikon join in and bring their formidable knowledge and talents to bear to make even better mirrorless gear. That would be a win-win outcome for everyone.

To read the Bloomberg Report go to : http://www.bloomberg.com/news/2011-09-07/canon-clinging-to-mirrors-means-opportunity-for-sony-cameras.html

UPDATE: 09-09-2011

Nikon shares rose 10% on the Toyko stock market in three days because of a report from Reuters that the company was going to announce a mirrorless camera by year's end . Nikon officials quickly denied this.

photo and text c 2011 steve meltzer photographe