Fujifilm Fiscal Year 2020 Financial Results: Income Down 37.8%, but Great Recovery thanks to X-S10 and GFX100S, No Mention of X-T4

Fujifilm has published its financial results for Fiscal Year 2020 (from April 1, 2020 to March 31, 2021).

So how did Fujifilm perform in the year of the COVID-19 pandemic?

In a nutshell:

  • Instax is going strong
  • broadcasting and cinema lenses suffered most due to cancellation of events (such as the Olympic games) caused by the Coronavirus pandemic
  • Fujifilm X and GFX series had a tough start but recovered greatly later in the year thanks to the Fujifilm X-S10, Fujifilm GFX100S and GF80mm F1.7 R WR, allowing a year-over-year increase in the second-half revenue

For the imaging solution, this translated in an operating income that amounted to ¥15.6 billion (down 37.8% year-over-year).

It is curious they do not mention the Fujifilm X-T4 in their reports, which hit the market in spring 2020. Maybe it’s the camera that suffered most from the pandemic, as it was released right when the pandemic started, factories were shutting down and there was the biggest uncertainty on how the pandemic would evolve.

And once the situation was getting more clear and better, Fujifilm had already a mini X-T4 on the market, the X-S10, which was smaller, more affordable, mainstream ergonomic choices and IBIS, making it probably a top pick over the X-T4 for many. Plus the X-T3 saw some substantial rebates, so if you don’t need IBIS and hate selfie screens, the X-T3 was still the better choice.

This time the bad timing was definitely not Fuji’s fault (as opposed to the X-H1 and X-T3 release timing), but mere bad luck.

Here are some excerpts:

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Fringer EF-GFX Pro Coming 2021: Supports IBIS, Phase Detection, Built-in Aperture Ring – PROTOTYPE VIDEO DEMO

Fringer will launch the Fringer EF-GFX smart autofocus adapter in the second half of 2021. They posted a video demonstrating a prototype of the adapter used on the Fujifilm GFX100S.

Key features:

  • Fringer EF-GFX Pro
  • adapting EF lenses on GFX cameras and keeping AF/AE/EXIF
  • Built-in electronic aperture ring
  • support phase detection AF*
  • Support in body image stabilization*
  • lateral chromatic aberration correction**
    *on GFX100 and GFX100S only
    **for optimized lenses only
  • hit the market second half 2021

List of Smart Adapters (Available or Announced)

Fujifilm GFX100S Cameralabs Review (vs Sony A1): A Tremendous, Inspirational and Satisfying Camera to Use

Gordon from Cameralabs reviewed the Fujifilm GFX100S.

Here is a summary of his 20 minutes long review and you’ll find also the video down below.

In short: it’s amazing!

A more in depth comparison with the Sony A1 will follow, but some tidbits he already delivered in this review.

Summary

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DPR: Fujifilm GFX100S Gets Gold Award (with Error)

DPReview has published its full Fujifilm GFX100S review.

No surprise, it gets the Gold Award.

If gaining the extra image quality it offers over full-frame is valuable to you, we suspect you’ll be happy to work around any of the GFX’s shortcomings

[…] the Canon EOS R5, Sony a7R IV, Nikon Z7 II and Panasonic S1R are all quicker cameras with faster AF systems and all offer focus tracking and eye-detection functions that work more dependably than the Fujifilm. They’re also all smaller and less expensive than the GFX. However, none of them can match its image quality.

DPR says the Panasonic S1R is smaller than the GFX100S, but I am not so sure about that. It’s actually even lighter and slightly smaller. Rather significant error by DPR. Full Frame does not have to win at any price ;).

Anyway, here are their Pros and Cons:

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