Bad product? Bad marketing? Predatory pricing? A simple act of desperation? Or all of the above? Nikon has just slashed the price of the Nikon 1 V1 kit (with the 10-30mm VR lens) again, down to $299. A product that sold for $899 exactly one year ago when I reviewed it. Wait, there is more – the Nikon 1 J1 camera, which has far less impressive specifications sells for $100 more. Doesn’t make sense, does it?
How can a product get 3 times cheaper in less than a year? Usually, you don’t see a 66% discount on an electronics product in a 12 month period after its launch. That just doesn’t happen…typically. And when it does happen, there is usually something wrong with the product, or the product fails to sell due to lack of mass adoption. Like Betamax versus VHS or HD-DVD vs Blu-Ray wars. Or many other similar stories. Nikon came a little late to the mirrorless market with its Nikon 1 system. The Micro 4/3 alliance already matured by then, with excellent lens choices, bigger sensor and lots of built-in features. Sony also gathered a big fanbase around its tiny cameras with big APS-C size sensors. Others were pushing hard with innovative designs, great lens choices and more. While Nikon wanted to capture the hearts and minds of many photographers, the product did not get the stamp of approval from the mirrorless community, mostly due to its high price tag. Many reviewers praised the Nikon 1 V1 camera, but could not justify its high price when compared to the competition. Not when Sony was selling its excellent mirrorless cameras like Sony NEX-5N for several hundred dollars less. And with Canon also adopting APS-C sensor size for its new EOS M mirrorless system, it was getting clear that Nikon would have a hard time competing in the mirrorless market. And now here we are – the Nikon 1 V1 is the cheapest of them all (in the high-end mirrorless category).