Claims to Remember

From time to time, the Japanese companies, those following them, the press, noted photographers, and a few prominent fan boys make claims about future sales or prospects. I like Jon Gruber's way of dealing with this, which he calls Claim Chowder. So I'm going to begin tracking statements that are made and see how they fare against reality.

  • Olympus Draft Plan May 2012. Claim: 30% increase in sales by March 2017 (1.1 trillion yen). Comment: 30% in five years is less than 6% increase a year. 
  • Pro photographer Trey Ratcliff in Twit Photo Episode 54. Claim "I don't see myself using a giant D800 camera in three to four years [2015 to 2016]." 
  • IDC April 2012. Claims: "DSLRs will increase to 16.76m units sold in 2012." "Mirrorless cameras will increase to 6.43m units sold in 2012." Busted: shipments from manufacturers only hit 3.96m in 2012 for mirrorless (DSLRs came close at 16.2m). 
  • Olympus June 2012 Management Plan. Claims: 149b yen (FY end 2013), 160b yen (FY end 2014), 170b yen (FY end 2015). 180% increase mirrorless unit volume by 2017. 70% increase high-end compact unit volume by 2017. Unit volume of 7.5m total in 2017. "Strive to achieve profitability in FY end 2013." Last part busted! Didn't achieve profitability in FY just ended. Double busted! Didn’t meet FY2014 claims. 
  • Panasonic "Mirrorless Trend" in G5 announcement. 2010=1.4m units, 2011=3.1m units, 2012=6m estimated units, 2013=8.4m estimated units, 2014=10.6m units, 2015=12.2m units and mirrorless overtakes DSLR sales. Busted! Actual number for 2012 was 3.96m units, new estimate for 2013 is 4.9m units.
  • CIPA mirrorless estimate for 2013: 4.9m units.Busted! Actual units were 3.3m. 
  • Canon Re-Forecast of Sales at EOS M announcement: 21m instead of 22m of compact cameras, but still 9.2m interchangeable lens cameras for 2012. 
  • Canon interview in DC Watch: goal to reach 15% of mirrorless market share in Japan by October 2012. (Given the release date of the camera, that actually translates into "we expect an instant 15% market share") Busted! The preliminary number for 2012 in Japan turned out to be 2.1% market share for the EOS M. 
  • Impress Digital Camera magazine prediction for 2013: 75% chance of a Nikon V3.
  • "I have no hesitation, in my mind and in my business direction, that in the future—whether it’s three years or five years out—that there will be three dominant imaging companies on a global basis and it will be Canon, Nikon, and Pentax/Ricoh." Pentax Executive Vice President Jim Malcolm, in interview with digitalcamerainfo.com.
  • Canon 2012 Annual Report: "The market for interchangeable lens digital cameras is expected to grow around 10% annually for the foreseeable future." Busted. Canon now saying interchangeable lens forecasts are down significantly.
  • 24/7 Wall Street (Yahoo Finance): Olympus will get out of cameras by the end of 2014.
  • Olympus Ogawa-san to Nikkei.com June 2013: "This fiscal year Olympus aims to boost mirrorless-camera sales by 20% to 730,000 units. The break-even point is sales of 1 million units, and...the goal is to reach that level in the year to March 2015 and restore the company to the black." Busted. new forecast only four months later: 660,000 units, and they will have to increase sales significantly in 2H because they only sold 250,000 in the first half of the year. Last year's sales were 590,000 units, so if Olympus hits their new forecast number, they'd have grown their mirrorless sales by 12%, not the 20% Ogawa-san claimed. Double busted! Final year results were 510,000 units [source Credit Suisse], down from last year. 
  • Nikon Makoto Kimura talking to Bloomberg 7/8/2013: compact market shrinks 12% in 2013, interchangeable gains 8% in 2013. Busted. Compacts down 41%, DSLRs down 15%, mirrorless down 16.5%.
  • Sasa-san at Olympus conference call Q2/2013: Pen series generates steady 200k units per half year (400k year). E-M1 expected to sell 100k units in second half of year. 6051 employees in Imaging. Haven't considered selling the camera business (actual quote "no approaches have been made.").
  • Sasa-san in Bloomberg article in December 2013: 1m m4/3 sales as early as April 14-April 15 fiscal year, 7b in profit for division, 5% market share in interchangeable lens cameras. Busted by Sasa-san himself in another interview with Bloomberg five months later (see below).
  • Sasa-san in Bloomberg article in May 2014: Profitable in cameras in year ending March 2016 (5b yen), but unprofitable in current year ending March 2015 (-3.5b yen). 630k m4/3 units this year, 24% increase; 1m compact cameras this year, 63% decrease.
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