After weeks of speculation, Fujifilm have announced that they are planning to increase their film prices by 25%.
Having already been implementyed this month in Japan, the price hike is expected to be introduced to the US and rest of the world markets on July 1st, 2013. Speaking in a Press Release, the company confirmed that both their film and instant camera product lines would be affected;
“Prices for consumer and professional photographic film, including black and white, color negative, color reversal films, as well as consumer One-Time-Use cameras (OTUC) will increase by approximately 20%.
The price increases are a result of the continuing decline in demand for film products, the high costs of production, and the increased expenses associated with raw materials, including silver and petro-chemicals, and energy. Under such circumstances, and despite efforts to maintain production costs, Fujifilm is unable to absorb these costs entirely and must implement price increases at this time.”
Tokyo Keizai, a Japanese financial news website, recently published the results of an investigation into the company’s declining film sales in an infographic:
The red sections of the infographic represent the firm’s film sales. In 2000, film sales accounted for 19% of Fujilfilm’s revenue, a decade later this had dramatically reduced to 1.5%. It would be non-sensical of the company to ignore such a dramatic market shift, and therefore price increases like these are the only way the company can continue to produce for an analogue market.
Sorry Kodak fans – this is unlikely to present a commercial advantage to the Rochester-based printing firm, as the company is already well into the process of selling its troubled personal imaging business unit, including its film and paper operations.