Did you know?
Nikon has been a supplier of space capable cameras to NASA since 1971. Nikon NASA F4 was its first fully digital camera for NASA.
Nikon began as Nippon Kogaku K.K. (Japan Optical Industries Co., Ltd.) on July 25, 1917, at 120 Haramachi, Koishikawa-ku (present-day Hakusan 4-chome, Bunkyo-ku) in Tokyo, starting domestic production of optical instruments such as rangefinders and microscopes. Now Nikon is the world’s largest manufacturer of the “steppers” used in the photolithography steps of semiconductor fabrication, and holds 44 percent share of the market.
This can only be achieved through a firm with extensive knowledge, experience, and innovative strategies. To determine the strengths of the company potential, weaknesses, opportunities, and threats, it is necessary to conduct a SWOT analysis by Nikon.
Nikon At A Glance – Nikon SWOT Analysis
Company: Nikon Corporation
Founders: Koyata Iwasaki
Year of establishment: 25 July 1917, Tokyo, Japan
CEO: Toshikazu Umatate
Headquarters: Minato City, Tokyo, Japan
Employees (Dec 2020): 19,448
Ticker Symbol: NINOY
Annual Revenue (Dec 2020): Yen¥451.2 Billion
Profit net income (Dec 2020): Yen¥9.2 Billion
Products & Services: Digital SLR Cameras | Mirrorless Cameras | Digital Compact Cameras | NIKKOR Lenses | SnapBridge | Software | Accessories | Sport Optics | Archive | Camera lenses | Binoculars | Microscopes | Ophthalmic lenses | Measurement instruments | Rifle scopes | Spotting scopes
Company Website: www.nikon.com
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Nikon SWOT Analysis – SWOT Analysis Of Nikon
SWOT Analysis Of Nikon analyzes the brand based on its strengths weak points, weaknesses, opportunities, and threats. With Nikon SWOT Analysis it is clear that the advantages and disadvantages are internal factors, while threats and opportunities are external elements. Here we are going to talk about Nikon SWOT Analysis. Below Is The Detailed SWOT Analysis Of Nikon.
Nikon Strengths – Nikon SWOT Analysis
1. Core capabilities: Nikon’s biggest strength lies in the emphasis they place on their main area of expertise which is the expertise they have in imaging technology. Their contributions include matrix metering , color recognition optical VR processing chain bandwidth, among other things.
2. Concentrate on the smallest of problems: Instead of focusing on the issues that affect macro customer Nikon has always looked at the underlying issues photographers confront and has attempted to address these issues. They could be professionals or novice photographers.
3. Histories: The company has been in operation for nearly century and has been able meet the challenges the ever-changing marketplace for imaging brought. The company has fought through numerous issues during the period of natural disasters, wars, technology changes and disruptive technological innovations.
4. The variety of users: Nikon caters to a large number of customers, ranging from amateur photographers as well as professional photographers. They also make lenses glasses, sunglasses, and other lenses. They also serve industrial and commercial clients with their semiconductor business, printing equipment and scanners.
5. Good stakeholder relations: Though not over the top, Nikon has always determined to maintain good relations with its customers. It also has a steadfast commitment to the community and participates in many events that benefit society, such as scholarships programs for kids who aren’t privileged, and aid for conflicts or disaster-stricken regions.
Nikon Weaknesses – Nikon SWOT Analysis
1. The gap between feedback from customers and engineering: Nikon has always been an engineering-focused company with a attention to research. They are always looking at problems and work to fix the problems, however when it comes to truly understanding the needs of customers, Nikon is ineffective.
2. Speed in innovations: In the area in which Nikon worked for a firm, for it to be successful, it has to be able to innovate at a high rate as well as a fast iteration rate. Nikon is an absolute master at the latter , but is slow in the first.
3. Inability to please customers from the masses: Nikon caters more towards the specialist market more than the mass market and has had more success in supplying professional photographers with cameras due to their focus to the smallest of details. They are therefore unable to meet the demands of a market that could provide them with a lot of volume, but instead must concentrate on the value.
4. Restructuring: Nikon has recently revamped its business operations, which negatively impacted the bottom line of their camera business, as well as adversely affecting productivity.
5. Poor Ethics: Nikon is facing serious accusations of violating the law of competition, for which they were even penalized and fined. This has led to an image problem for the company in the eyes of its customers.
Nikon Opportunities – Nikon SWOT Analysis
1. The HTML0 format has a high chance of market of optical components: The optical technology business is expected to grow , and new technologies are predicted to be able to compete particularly for optical components. Nikon currently has a solid research team that is working in this field and are able to leverage this potential to benefit.
2. opportunities in the field of medical imaging: Medical imaging is an increasing business opportunity for companies in the imaging sector and will see an increase in demand for medical equipment imaging to support diagnosis, support as well as research and training.
Nikon Threats – Nikon SWOT Analysis
1. Competition: The main competitors of Nikon are Canon, Casio, Kodak, Panasonic, and Olympus.
2. Changing industry trends: The disruptive technology changes in the digital imaging sector is creating a lot of threats for the businesses engaged in this sector primarily because of the costs to be invested in research. Moreover, the shelf life of products have reduced and there is a strong likelihood that products get obsolete soon.
Nikon SWOT Analysis Overview Template
This is the SWOT report that Nikon has done. Please let us know if you have additional suggestions to add.
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