Nikon Raises Sales Forecast on Strong Camera Sales

Nikon has raised its 2010/2011 sales forecast (according to Reuters) as a result of stronger profit and record camera sales in the April - June 2011 quarter. Nikon said it now expects to earn an operating profit of 86 billion yen ($1.1 billion) in the year to March 2012, up 27 percent from its previous forecast and beating the earlier consensus estimate of 74 billion yen.

Sales and profit on digital SLRs, interchangeable lenses and compact cameras were the highest for an April-June quarter, despite a historically strong yen biting into profits.

Like Canon, which also lifted its forecast, Nikon said it was helped by a quicker-than-expected recovery from supply chain halts after Japan's March 11 earthquake.


Nikon Takes Over Canon for #1 DSLR Sales Postion

Boasting a sales growth of 333 percent compared to 2004/2005, Nikon predicts that it will sell 3.3 million DSLRs this year and that it is now "number one for share by volume in the UK, Europe, USA and Japan."

Last year Canon won the sales war by just 1 percentage point, but 2008/2009 marks the first time that Nikon has beat Canon in DSLR sales worldwide.