Over the years, Fujifilm has shifted its business away from traditional cameras to focus on healthcare.
But thanks in large part to the TikTok community, the photography supplies company's retro-style X100 digital cameras are now a runaway success, helping to boost profits.
Fujifilm’s X100V camera model has been so popular that the imaging division, which includes cameras, was the biggest contributor to the company’s record profit in the fiscal year ending March 2024. The division accounted for 37% of operating profit in fiscal 2023, up from 27% the previous year.
Still, Fujifilm is trying to cater to younger fans' demand for this $1,599 camera, which is popular for its looks and high-end features.
Fujifilm's professional imaging group director Yujiro Igarashi said that after "selling out" in 2023, Fujifilm has made efforts to double production capacity in China for the VI model, which will be launched in March 2024.
He said the number of orders had far exceeded the company's forecast. Despite doubling its preparations, it was still not enough to meet demand.
Founded 90 years ago, Fujifilm competed with Kodak, the leader in photographic supplies, for decades before surpassing them in sales in 2001. However, that victory was short-lived, as digital cameras became a standard feature on mobile phones.
To survive, Fujifilm has leveraged its expertise in film and photo processing chemicals to shift to healthcare applications, a strategy also adopted by domestic rivals Canon and Olympus.
Fujifilm didn't give up on cameras, but it did cut 5,000 employees in its film division and move most of its production to China the following year.
During the COVID-19 pandemic, Fujifilm focused on antiviral drugs and preventive vaccines, but now cameras have brought them back to the "top of glory".
Although it was born in 2011 with the aim of saving Fujifilm's professional camera division, the appeal of the X100 series comes from its nostalgic style.
According to writer W. David Marx, smartphones make taking photos so easy that they lose their value.
With the recovery of tourism activities after the COVID-19 pandemic, the demand for cameras has skyrocketed. Social media influencers such as Instagram and TikTok have turned the X100 into a trendy icon.
But the problem now is supply. Used X100 cameras are selling for many times their listed price on auction sites. Online fan communities are also anxiously awaiting their orders.
Production volume is a barrier, Mr. Igarashi admits, but the design and complexity of the X100 makes mass production difficult.
Meanwhile, Fujifilm CEO Teiichi Goto has said he is quite comfortable with keeping supplies limited, saying that overproduction and price cuts would diminish the appeal of the product. He also cited Germany’s Leica cameras as a “model” for maintaining premium value.
However, one social media influencer suggested that if the waiting list is too long and the price is high, it could cause customers to switch to competitors like the Canon G7X and Ricoh GR.
TH (according to Vietnam+)Source: https://baohaiduong.vn/fujifilm-hoi-sinh-nho-con-sot-hoai-co-tren-mang-xa-hoi-387446.html
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