Nikon officially dropped the bombshell that it has pulled the plug on three upcoming premium compact camera models that were announced in the first half of 2016 and initially expected to ship in June 2016. This cancellation therefore comes after months of delays as well as rumours of an imminent shipping date.
Nikon cited electronics hardware problems and low projected profitability in the decision. The cancelled models would have had equivalent focal ranges of 18-50mm, 24-85mm and 24-500mm, making the middle model a direct competitor to Sony’s RX100 line, while the first model covers the focal range of two of Sigma’s DP models (which use prime lenses).
Among other things, the cameras would have featured 20fps continuous shooting with autofocus, and in-camera perspective adjustment for architectural photography.
This is the next major cancellation after Samsung’s withdrawal from the dedicated camera market. Nikon has also announced a voluntary retirement program to lay off 1000 workers.