Sony Overtakes Nikon for the #2 Spot Behind Canon

Sony’s goal of becoming the #1 camera brand by 2021 is now one step closer. The company has announced that it has overtaken Nikon in worldwide interchangeable-lens camera revenue, putting it in the #2 spot behind Canon.

While announcing plans in 2018 to invest about $9 billion in mostly image sensors over the next few years, Sony stated that one of its mid-range initiatives during that span is to “be the top brand in the overall camera market,” a spot that has been securely held by Canon for many years. Sony’s cameras have continued to make waves, and now the Canon/Nikon duopoly has been broken.

In a earnings conference call with investors and analysis, first reported on by sonyalpharumors, Sony shared that its revenue share of the ~$11.9 billion global still camera market has jumped 4% from 20% in the 2017 fiscal year to a hefty 24% in 2018.

Sony’s market share in compact cameras jumped from 26% to 29% during this span, moving it from #2 to #1. And in interchangeable-lens cameras, Sony went from 19% market share to 23%, leapfrogging Nikon for the #2 spot.

Sony also announced that it had taken the #1 spot in full-frame cameras in the US in late 2018. The company now has two years left to overtake Canon for the #1 spot in the overall camera market if it is to accomplish its lofty goal.

(via DPReview via Fstoppers)