According to Map Camera in Japan, this is their list of top 10 best selling cameras:
- Fujifilm X100VI
- Fujifilm X-T50
- Sony A7C II
- Nikon Zf
- Fujifilm X-T5
- Nikon Z6 III
- Sony A7 IV
- Canon R6 II
- Canon R5 II
- Nikon Z8
Filtering out just FF models, we get this (with current Wex UK price added):
- Sony A7C II - £1999
- Nikon Zf - £1699
- Nikon Z6 III - £2099
- Sony A7 IV - £1899
- Canon R6 II - £1999
- Canon R5 II - £4499
- Nikon Z8 - £2999
For comparison, the S5ii is currently listed by Wex at £1899.
So, five of the seven top-selling FF cameras are all mid-range models, at a similar price to the S5ii. The remaining two are range-topping - the Canon R5ii and the Nikon Z8. Both clearly out-sold any Panasonic FF camera.
Does the Sony A7IV or Canon R6ii or Nikon Z6iii do more than the S5ii in ways that matter for 99% of the buyers? Almost certainly not. So why isn't the S5ii in the top 10 list? In fact, looking at other retailers' top-selling lists, it looks like the S5ii is not even in the top 20.
I think that is a really interesting question and I bet it's one that really focusses the mind at Panasonic. Some on this thread are saying that Panasonic is playing a different game, focussing on more profitable models at lower volumes. But look at how Panasonic is always doing deep, deep discounts. Just after Christmas, the S5ii hit £1099 in the UK. That's a whopping 44% discount off the current Wex retail price. This discounting strategy tells me that Panasonic are not taking a high profit, low volume approach. They discount like this to get volume and they won't discount if they don't need to. Profitability is derived from unit margin x volume. If the volume isn't there, the profit won't be either. Panasonic isn't Leica. Their R&D and production costs will still be significant so they need the volume.
I think the reason for the low sales volume is simple to see, and it's all about market perception. The vast majority of reviewers and influencers are always saying that Sony, Canon, & Nikon are better systems. They say that because these manufacturers have a competitive set of cameras across the range and their product roadmaps are more predictable than Panasonic's. Panasonic have released nothing in the upper tier since 2019 and they have provided virtually zero information on their intention to even remain in this higher tier. And this higher tier is important as a platform to introduce leading-edge capabilities. So, It's not surprising at all that the reviewers take the safer bet and recommend Sony/Canon/Nikon, especially when there are some basics that Panasonic still aren't competitive with - like CAF, or a higher Mp camera that you can buy.
Now I know I'm definitely acting like an armchair camera company executive now, but Panasonic really need to wake up and show the market what their plan is. There's doubt because:
- Since the launch of the S1 and S1R in 2019 there have been no new models or positioning statements about building high-spec L-mount models
- Those early models are now obsolete/outdated. In fact, Panasonic effectively gave up with all the S1 models (S1, S1R, and S1H) several years ago yet there is no new model to replace them
- They stuck to DfD for too long and then once PDAF found its way into the S5ii, the pace of rolling it out to other models is slow (it's now two years since the S5ii arrived and apart from the S9 there is no other Panasonic FF camera with PDAF)
- Although PDAF brought a step up in AF performance, it wasn't matching the best available when it arrived in the S5ii and to date there has not been any advancement to its capabilities
- The S1ii (or whatever it's called) has been anticipated for a long time, but it's still mañana
- All the above has allowed Canon and Nikon to leapfrog them, and for Sony to get further ahead. What does this say for their commitment to the market?
I absolutely love my Panasonic cameras and I'm a big advocate for the brand, but they need to sort this out in my view. If they don't have good answers to all the above then people like Chris Nichols and Jordan Drake will continue to poke holes in their products and they will only shrink in market share until the point comes when they give up. I don't want that to happen!!