28 May 2009

Is the recession really biting?

It seems everywhere you look these days there's doom and gloom about the recession. I'm sure everyone reading this knows someone who has been made redundant, had their hours cut or otherwise suffered due to economic down-turn. However, while everything else seems to be heading ever more downwards, the photo industry seems to be carrying on regardless.

A couple of months back we had the launch of the Canon EOS 500D and Nikon D5000 and now Sony have released a raft of THREE new consumer level models. Not only that but Pentax are in on the act too with the announcement of the K-7. It all adds up to a time when you'd be forgiven for thinking there was a global recession going on. At the very least I'd expect companies to hold off a little. Maybe keep products 'live' for a little longer before replacing them. Or maybe it's a concerted effort to drive sales upwards and so stave off poor economic results. Sony for example posted their first net loss in 14years just the other week - and it was big too - $1.03billion. Nikon too have seen a drop. While they're still in profit, they've seen their profits fall 63% for the year ended 31st March '09 - down to 28.06 billion yen from 75.48 billion yen the year before.

So what's going on? We've got cameras being launched when you'd think the market was in a downturn and at the same time, prices from the major manufacturers going UP. It's like giving with one hand and taking away with the other.

What do you think? Are you likely to buy a new camera in the near future or are you taking the squirrel approach of saving for a harsh winter?



Dave Courtenay said...

You forgot to mention that Canons profits were down 90% in its last quarter-There still seems to be plenty of people on forums buying expensive gear-me well i will hold on and any money thats in the bank will go towards travel or a rainy day

WPATW said...

Another one here not spending too.

Very happy to use and make the most of the kit I have got(or borrow).

Would like a 5D11, but with prices so much higher due to the exchange rates, nice to haves can stay as exactly that.

Lenses are the best things to buy currently IMO, if you need them, as bodies are now reaching almost consumable, use for a year and throw away status, except for the pro end bodies.

Plus there is now a lot of levelling out of technology. For example, having used both the 40D and 50D, the 50D is a backward step, certainly for the type of work that I do.