Many companies have faced a shortage in the supply and demand of their photographic gear. Sigma, Canon, and Nikon have all faced a supply chain, largely due to issues with chips or lens elements. In such cases, there is often a longer wait period, which can be disheartening. Fujifilm, in that regard, is also no different. Their X100VI became insanely popular on TikTok and began to face a shortage. However, in a new interview, Fujifilm’s CEO says that the company is recovering from this and shares his plan for the future.
What Fujifilm’s Imaging President Said
In an interview with Phil Web (via Fujifilm Rumors), Fujifilm’s Imaging President, Koji Matsumoto, spoke about his best-selling cameras. Matsumoto notes that their digital cameras have been performing well, especially the X100VI, X-T50, and GFX100S II in the lineup. “The supply and demand balance was disrupted, but it has recovered since the beginning of this fiscal year,” he explained.
He added that the supply was mainly going out of the country before the yen was strong. But now, the demand is high from both Japanese and international customers. “The situation is still tough for the X100VI and other products, but we are gradually easing backorder restrictions, so please rest assured,” he stated. The same was also the case with Instax, which is one of the most popular modes of getting a film-like look. The company has shifted its strategy by selling a pack of one instead of two, which has helped get the product back in stores. However, they apologize for the inconvenience and hope customers can understand the situation and be patient.
While they are trying to work things out, Fujifilm’s CEO also highlights what is causing this. He notes that the democratization of photography, especially with smartphones, is what has resulted in production delays. “Moreover, this has spread globally, and people who want to take slightly emotional photos are moving to Instax and film cameras, and people who want to take more beautiful photos with more depth are moving to mirrorless cameras,” he added. The president also noted that production requires time and “capital investment” to cater to a global audience.
The Q&A From Fiscal Report Has Another Response
Fujifilm Rumors (Via DClife.jp) said the company’s CEO, Yoshikazu Goto, spoke to shareholders during their Q&A meeting following the Q2 fiscal year report. Amongst their plans for the future, the CEO also spoke about the supply shortage issue, which has been facing for several years. Here’s what the Google Translate version states:
The supply and demand issue that has been bothering us has been resolved, and we have increased production, so we are no longer in a situation where we don’t know when we will be able to get our hands on it. We have now reached a point where we can roughly estimate when we will be able to deliver the product to our customers.
Yoshikazu Goto
We highly doubt that the issue has been resolved, considering many companies are still facing issues. The demand for the X100VI is quite high, and they still have not been able to get users their supply. In fact, if you go to Fujifilm USA’s website, the company will direct you to a ‘notify me’ tab (screenshot attached below).
It is not just this camera but also the Fujinon XF27mmF2.8 R WR, which was launched in 2021. It has been a while, and the lens has not been in stock since 2022, according to Fujifilm Rumors (screenshot attached below). So, if this is true, then “resolved” is the not word for it. What Goto may be suggesting is that with the rising profit, the company “will work” towards finding a solution for this.
What The Company Must Do
While smartphones and social media are the reason why the film is making a comeback, this opportunity should be taken full advantage of in the future. Fujifilm’s Instax makes it easy to capture unique images. Still, the Instax mini printer is what many would also love to choose, as you get a somewhat similar result, which won’t be possible if you print normally. Sure, Fujifilm needs more investment, but considering the hype of the content generation, they have a chance to be bigger than Canon. So, while the company has figured out the cause of such a boom, it should also work towards changing the production shortage. For instance, the X100VI became so famous that it was resold at double its’ price. In a way, Fujifilm should be thanking the youngsters who made the camera so iconic.
This also means that the company should be able to predict what consumers want and even use social media to promote still photography. Instagram and TikTok are heavy on video content, but this is also a great space to push the medium forward. Perhaps we can create a film camera specifically for Gen Z and market it on social media? This could reap lots of benefits for Fujifilm.
However, reducing their lineup could also work in their favor. If cameras or lenses that are in high demand are no longer available, what do you think users will do? Of course, they will shift to another manufacturer in the same price range.
So, while they want to release new products every year, that will not be feasible. Instead, limiting the launches could help, as well as if they work on discontinuing cameras and lenses that are no longer available. I know this sounds abrupt, but limiting the numbers is the only way around. For example, Leica has a limited number of cameras, and they are priced higher. Once they are resold, the resale value will be double the original cost. Perhaps this strategy can bear more fruits.
Furthermore, since most cameras, after the new releases, find themselves in the second-hand camera market, Fujifilm can offer better service. So, let’s say I bought a secondhand Fujifilm X Pro 2. I still should be able to have good repair services available. This way, people may invest in older devices, while the new launches can purely focus on innovation and the needs of photographers. The content creator segment can get their own cameras separately.
I know Fujifilm will not do this anytime soon, as they are competing with giants like Canon, Sony, and Nikon. But we hope that the company stops participating in the rat race and pursues the things that make its brand loved by millions.