It is no secret that DSLR sales are on a steep decline as mirrorless competition enters the space with smaller, flexible and more robust technology at a cheaper price-point. While Nikon and Canon have remained staples in the digital photography world for the past decade, their reign is slowly coming to an end.

Nikon specifically is having a lot of trouble adjusting to the shift in the market and yesterday sent a letter that described “extraordinary loss” over the last nine months dated from April 1st, 2016 to December 31st, 2016. According to the company, they are undergoing a “fundamental company-wide restructuring” to cut costs and get back on track to maintaining a yearly profit.

Included in this restructuring plan was getting rid of 1000 employees through a voluntary retirement program as well as axing their long-delayed DL Series of compact cameras. The product line was initially introduced in February of 2016 and was scheduled for release to compete with the Sony's RX and Canon's GX line of compact cameras.

While Nikon is not down for the count just yet, it is a worrisome time for the company and news like this should give more incentive for Nikon enthusiasts to start considering a future with another camera system.

Via: PetaPixel
Source: Nikon