From Thom Hogan's blog By Thom http://bythom.comQuoteOn August 8th Thom Hogan wrote: Meanwhile in Japan, Nikon corporate announced their first quarter financial results with absolutely no surprises. Overall profits were a bit lower than originally forecast, attributed to increased sales costs and yen appreciation. In terms of cameras and lenses, they sold what they said they were going to sell and haven't changed their estimates for the full fiscal year, so I'm not going to roll additional commentary on that from what I did at their last financial disclosure.
Thom Hogan is an author and photographer. He also blogs about Nikon cameras http://bythom.com and Mirrorless cameras http://www.sansmirror.com His sites are News & Reviews sites, NOT Rumor sites.
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My apologies, I'm an engineer, not a finance expert. I guess if Nikon's gross margins are fairly small, a few percent change in currency exchange rates could (and did) kill over half their profit. I wonder what Canon's quarterly numbers look like (I haven't seen them, and I'm too lazy to look up if they have been released). Sorry to start a flame war on a topic about which I should be better informed.