An American friend of mine made this video about the film industry, and how shutting down our "non-essential" industry impacts jobs across the wider economy and not just us in the film industry.

Nikon statement

Notice Regarding Recognition of Extraordinary Losses and Reversal of Deferred Tax Assets in Non-Consolidated Financial Statements

NIKON CORPORATION (hereinafter “the Company”) expects to post extraordinary losses and to reverse a part of deferred tax assets in its non-consolidated financial statements, which are prepared in accordance with Japanese GAAP, for the fiscal year ended March 31, 2020.

Using the future plan that reflects the impact and more caused by the spread of COVID-19 to business activities, the Company has assessed an indication that fixed assets may be impaired, performed valuation of financial assets, and examined the recoverability of deferred tax assets.

As a result, the Company has decided to post an impairment loss of 5.7 billion yen for the fixed assets held by Imaging Product Business. And for Nikon Metrology NV, the Company’s consolidated subsidiary, a loss on valuation of the investments in subsidiaries and affiliates and provision for loss on business of subsidiaries and affiliates will be recognized 6.7 billion yen and 9.2 billion yen, respectively. The Company has also decided to reverse a part of deferred tax assets and post deferred tax expenses of 20.6 billion yen. However, the losses associated with the subsidiary mentioned above will have no impact on the consolidated financial results, as those losses will be eliminated in the consolidated financial statements.

"Our Key First Look Data indicates a sharp decline in iPhone sales in April (-77% y/y, -56% m/m), which reflects the first full month that Apple brick-and-mortar stores were fully closed," analyst John Vinh wrote.

Nice.

B&H Photo & Electronics furloughed hundreds of employees this week — a move the iconic retailer had resisted for more than a month after its megastore in Manhattan was forced to shutter because of the coronavirus lockdown, The Post has learned.

The 47-year-old electronics seller — whose Manhattan flagship is known for its Orthodox Jewish staff and the elaborate conveyor-belt system that moves merchandise around the shop — furloughed about 400 of its 2,000 employees on Wednesday, sources close to the company said.

In a memo to affected employees, human resources director Izzy Friedman said B&H “waited as long as possible” before making the cuts, and noted the company had been paying and providing benefits for affected workers “through the Passover holiday break, and beyond to make this easier.”

B&H was likewise waiting to “evaluate the various stimulus benefits available,” but was forced in the end to furlough workers because the “crisis has continued with no clear end in sight,” Friedman added.

The furloughs came as a surprise to one B&H staffer, who said the company’s call center, which takes orders from customers across the US, has been “busy as hell” fielding demand for “computers, movie cameras and accessories for setting up a home office” as COVID-19 forces millions nationwide to work from home.

Capitalism is always the same, they calculated that remaining people can do the job if working little harder.

Henry’s, the largest photography retailer in Canada, has announced that it will shutter 7 of its 29 physical stores in a strategic restructuring designed to help it survive in a “post-pandemic world.”

“The effect of COVID-19 on the economy is unprecedented,” CEO Gillian Stein says in a press release. “The Canadian retail industry has been one of the hardest hit sectors and Henry’s has felt a dramatic impact. We closed our brick-and-mortar locations to keep our customers and employees safe due to the pandemic, which resulted in a significant impact to sales while still bearing the ongoing operating costs.

Global smartphone shipments are expected to contract by 15% on year to 1.15 billion units in 2020.

I hope for 30%.

Companies estimates condireding renevue drop

Cinegear new dates

Bad rumors circilating in the industry.

If lockdown persist till July we can have up to 3 brands going out of cameras market. Before this happens you will cut of all remaining marketing and repairs related personell (around 2-3 weeks before announcements).

Coresight Research predicts that 15,000 U.S. stores will permanently close this year, setting a new record and nearly doubling its earlier forecast of 8,000 store closings.

‘Retail has hung a closed sign on the door literally and metaphorically,’ Neil Saunders, managing director of GlobalData Retail, said.

Around 90% of photo cameras offline retail will shut down in 2020, we can expect no more than 10% of it to survive and even them will be in very bad shape.