Kodak Rises to Third in Global Digital-Camera Sales (Update1)
April 14 (Bloomberg) -- Eastman Kodak Co., the world's largest photography company, rose to third place in global digital camera sales last year, surpassing Olympus Corp., according to a report by IDC, a market data company.
Worldwide shipments of digital cameras reached 74 million units in 2004, IDC said today in a report. Rochester, New York- based Kodak, which last year surged past Sony Corp. as the top seller in the U.S., had an 11.8 percent global market share.
Chief Executive Officer Daniel Carp is transforming Kodak into a digital-imaging company as sales of film decline. He announced in September 2003 that Kodak would concentrate on digital imaging for consumers, health-care professionals and commercial printers. Since then, the company has accelerated the introduction of its EasyShare cameras, printers and docks.
``A lot of Kodak's move had to do with how well they did in the U.S. last year,'' said Christopher Chute, senior research analyst at Framingham, Massachusetts-based IDC.
Canon Inc. edged past Sony to take the top global share with 17.1 percent, helped by sales of its digital single-lens reflex cameras, IDC said. Sony dropped to 16.7 percent. SLR cameras see images directly through the camera lens and are favored by professionals and advanced users.
``That whole piece of the market has become much more of a consumer market,'' Chute said. ``Consumer fixed-lens cameras that cost $800 to $1,000 have gone away and SLRs are taking over.''
Nikon, Fuji Photo
Of the 74 million digital cameras shipped last year, 2.5 million were SLR models, IDC said, with 58 percent sold by Tokyo- based Canon, compared with 3.2 percent for Kodak. IDC did not break down SLR sales in its 2003 ranking, when 800,000 such cameras were sold.
Olympus had a 2004 market share of 11.2 percent. Nikon Corp. pulled ahead of Fuji Photo Film Co. for fifth place with 9.3 percent to 9.1 percent for Fuji. All of the companies are based in Tokyo.
Kodak's U.S. market share for digital cameras was 21.9 percent last year, while Sony had 19.4 percent, IDC said in February.
Kodak shares fell 36 cents to $31.48 in New York Stock Exchange composite trading. They have risen 26 percent in the past year.