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Nikon Corporation has recently entered the high-end cinema camera market by acquiring RED Digital Cinema. The acquisition, announced recently, positions RED as a wholly-owned subsidiary of Nikon, although the exact financial details remain undisclosed.
Nikon Acquires RED Digital Cinema
RED Digital Cinema, founded in 2005 by Jim Jannard, has earned acclaim for its cutting-edge digital cinema cameras, which have been prominently featured in blockbuster Netflix shows such as Squid Game and Peaky Blinders.
With this acquisition, Nikon aims to tap into RED’s expertise in cinema cameras, including its unique image compression technology and color science.
Jarred Land, the president of RED, expressed enthusiasm about the partnership, highlighting Nikon’s extensive history and expertise in product development. He believes the collaboration between the two companies will lead to groundbreaking advancements in the professional digital cinema camera market.
“Together, Nikon and RED are poised to redefine the professional digital cinema camera market, promising an exciting future of product development that will continue to push the boundaries of what is possible in film and video production,” Land said on Facebook.
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Nikon and RED
The acquisition comes on the heels of a legal dispute between RED and Nikon in 2022, where RED accused Nikon of patent infringement related to data compression technology. However, the case was later dismissed, paving the way for this strategic partnership.
Interestingly, RED attempted to diversify its product portfolio in 2018 by venturing into the smartphone market with the RED Hydrogen One. Despite boasting innovative features like a holographic display and modular add-ons, the smartphone failed to gain traction and was discontinued within a year.
With around 220 employees and its headquarters in Foothill Ranch, California, RED brings a wealth of talent and expertise to Nikon’s fold. The acquisition reflects both companies’ commitment to meeting customer needs and delivering exceptional user experiences.
Nikon’s decision to expand into the high-end cinema market aligns with its strategic shift away from less profitable areas, including developing new DSLRs. Instead, the company is focusing its efforts on capitalizing on the fast-growing demand for professional digital cinema cameras.
By leveraging RED’s technology and market presence, Nikon aims to redefine the professional digital cinema camera market, promising innovative product development that pushes the boundaries of film and video production.
Nikon’s acquisition of RED marks a significant milestone for both companies and the broader digital imaging industry.
In Other News
According to Facebook’s CEO Tom Alison, artificial intelligence (AI) will soon be used to judge users’ video feeds. According to sources, one of Meta’s significant AI investments is developing an AI system to power Facebook’s video recommendation engine and all of its platforms.
Stay posted here at Tech Times.
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