TOKYO, Nov 8 (Reuters) - Nikon Corp (7731.T: Quote, Profile, Research), the world's No. 2 maker of professional cameras, posted a 36.8 percent gain in quarterly profit on demand for its entry-level digital cameras and it raised its annual profit outlook above market forecasts.
Nikon, which ranks No. 6 in the entire digital camera market led by home rivals Canon Inc (7751.T: Quote, Profile, Research) and Sony Corp (6758.T: Quote, Profile, Research), lifted its full-year outlook 11 percent as consumers bought its expanded line-up of digital single-lens reflex (DSLR) cameras and simpler compact models.
Brisk global demand for digital cameras and a weak yen helped sales for Canon, Sony and Olympus Corp (7733.T: Quote, Profile, Research) in July-September, prompting Olympus earlier this week to raise its profit guidance for the full-year to March.
The precision equipment maker, which also competes with Netherlands-based ASML (ASML.O: Quote, Profile, Research) in the chip stepper market, lifted its annual outlook to 127 billion yen ($1.13 billion) from an operating profit of 114 billion yen, against a market estimate of 124.9 billion yen by 20 analysts.
Nikon banks on better demand from flash memory makers and liquid crystal display (LCD) makers for its advanced steppers -- complex machines used to print circuitry on silicon wafers -- but it also faces tough competition from ASML on its home turf.
"ASML is putting up a good fight in Japan," Nikon Executive Vice President Ichiro Terato said after a news conference. "But we're on track to gain 40 percent market share in ARF
(Argon-Fluorine) steppers."
more : reuters
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