CIPA suggests that this will be a bad quarter for digital cameras. ILC shipment value is flat - mirrorless is up slightly on lower volume whereas DSLR is down slightly on both units and value. Compacts are down - way down. As a consequence, overall shipment value is only about 90% of what it was back in 2017. This contrasts with more than 10% overall gain for 2017 over 2016. Based on CIPA numbers, I would expect that most companies would show a revenue loss over the same quarter the previous year (down 10% overall). Please login or register to view links. Note that CIPA numbers often do not match quarterly reports of Canon/Nikon/Sony/Fujifilm/Olympus as an aggregate. In the last quarter of 2017, revenue for the 5 companies as a whole showed a fairly big increase whereas I would have guessed flat revenue combined based on CIPA numbers - caveat: Panasonic and Ricoh also contributes to CIPA and their numbers are murky. It's also possible that the numbers were being calculated differently from CIPA in terms of dates, and overly rosy numbers from last quarter will be rectified by worse than expected numbers this quarter. Optimistic prediction would be a modest 10% revenue increase for Fujifilm Electronic Imaging at 23.2 billion yens for Jan-Mar 2018, and a revenue loss would not be surprising. We'll know soon enough.