Hasselblad Acquired By DJI

[ErikKaffehr]

Hi,

Kevin may have missed the fact that Volvo Cars is selling extremely well. They had their best year ever in 2015.

Best regards
Erik

Or this one :"n all fairness, another Swedish iconic company – Volvo, is now owned by Chinese investors and  Volvo’s new models promise really well – if they sell."

[BernardLanguillier]

Kevin may have missed the fact that Volvo Cars is selling extremely well. They had their best year ever in 2015.

Absolutely.

There is no factual evidence that being taken over by a Chinese company, or more generally speaking by a company from a BRIC country, has a negative impact on the company being acquired, on the contrary. This isn't true about the products of the company being acquired, and it is also not true about the employees of the company being acquired.

We could mention Jaguar Land Rover as another tremendous example of the very opposite. The company has become incredibly successful after being acquired by Tata and is now helping Tata automotive division stay profitable.

Cheers,
Bernard

[ErikKaffehr]

Hi,

I would guess that DJI has some interest in Hasselblad. They may be moving into high end areal imaging and want to offer a truly integrated solution. Or they want to earn the money themselves.

It is feasible that DJI would shift Hasselblad to higher volume at a lower price. That would be beneficial for MFD but perhaps less so for Hasselblad's competition.

Probably a good thing for Hasselblad.

Best regards
Erik

Absolutely.

There is no factual evidence that being taken over by a Chinese company, or more generally speaking by a company from a BRIC country, has a negative impact on the company being acquired, on the contrary. This isn't true about the products of the company being acquired, and it is also not true about the employees of the company being acquired.

We could mention Jaguar Land Rover as another tremendous example of the very opposite. The company has become incredibly successful after being acquired by Tata and is now helping Tata automotive division stay profitable.

Cheers,
Bernard

[Domenico]

Glad to hear it !
Hasselblad have product, projects, ideas, market, and now a founding owner / partner that can blown away all the rest of this very little market.

I guess, the future reference products for professional photography on the years to come
will come only from two brands :

HASSELBLAD & FUJI !!

that's all...

Happy new Year !

[Paulo Bizarro]

I was surprised by:

1. LuLa leaking such a news worthy story, based on "reliable sources". It is a shift towards a rumours approach that, if continued, it will eventually backfire and hit the site's credibility. But I am sure that that is a risk that has been evaluated.

2. All the speculation that is built into the article, and the bias that "being bought by Chinese is a bad thing for companies". This is 2017, for many years, many companies have been bought by Chinese companies, which is better than letting them die.

3. I am sure that if this rumour is true, DJI will invest to have profit on this venture. Of course there will be some changes, but I find the tirades about employees being concerned and the future of new cameras not necessary.

[Tony Jay]

What else do you have in mind if I may ask?

Cheers,
Bernard

I have in mind the whole DSLR cum mirrorless market.
I think a lot will have changed by this time next year - hopefully for the better.

Medium format is of interest to me but I claim absolutely no expertise or real knowledge in this market segment so Kevin's article was as big a surprise to me as I guess it was for everyone else.

With respect to the interchangeable lens camera market (DSLR/mirrorless) it is absolutely clear the market is very different from even just 2-3 years back.
Lots of factors at play here:
The pace of innovation as far as actual IQ and resolution has slowed. In percentage terms the improvements over the last few years has slowed. Cameras have actually become very good (I seem to recall that you shoot with a D800 series camera) and so the scramble to get the newest and shiniest is not like it once was. The same thing happened with PC type computers a number of years ago as far as both hardware components and OS goes. The market matured somewhat. Who knows, some us might actually wear a camera out before replacing it now!

The effect of Smartphones on the market cannot be underestimated. As a camera many mom and pop type shooters who just a few years ago might have been seduced into buying a DSLR instead of a compact camera will now just use their Smartphone instead.
Much more concerning, IMO anyway, is the effect the Smartphone will have on the future market for DSLR's. Simply put most current teenagers, those who are Smartphone smart anyway, look at current model DLSR as a piece of dinosaurware. From an image quality point-of-view for their purposes a Smartphone is plenty good enough and from a usability/convenience perspective there is no contest. Simply put, going forward, very, very few of those teenagers, once they reach an age where purchasing a DSLR becomes a realistic option financially, will have any incentive to switch even if they are really interested in image-making. From their perspective the Smartphone does what they want. Of course there will always be outliers - if one is really interested in bird photography attaching a 600mm f4.0 to a Smartphone is currently a bit of a challenge. But for a lot of different types of photography the Smartphone suffices.

I am very much interested to see how the various manufacturers and the larger photographic industry responds to the challenge  of not only maintaining, but increasing, their market share.
The interest in photography and image-making has never been higher yet the traditional vendors are losing market share hand over fist, most especially in market segments that were always their cash cow. The stuff that we shoot with might be the flagship that a manufacturer offers but it is rarely the big money-maker.
They will need to do something and time is not on their side.
Sony seems to be the only major player where both sides of the bread is buttered currently.

So, my view...
I think it will take a few weeks to ramp up but I expect plenty of announcements and perhaps even more rumours!

Tony Jay

[pegelli]

Yes, sure... you are kindly reminding us about these facts.

I will tell you how I interpret your post and I believe I will not be alone in reading it this way.

- P1 is increasingly worried by the success of Hasselblad, both X1D and H6D,
- P1 see with this rumored take over an opportunity to spead FUD about Hasselblad in an attempt to slow down some sales,

I personnally don't find this very elegant. The quote about Perry coming from a luxury background is probably the worst part. You can do better than this.

Doug, your response here reflects poorly on you and Digital Transitions. I can understand the resentment that Hasselblad and Fuji are coming out with cameras incorporating exactly the same sensor that Phase has incorporated into its camera system with the form factor of a boat anchor and for which it charges 3-4X as much. However, your anger is misplaced. It should be directed at Phase, which has been caught with its pants down.

Ahem, somebody who is a P1 dealer posts some pure facts about Hasselblad that might be interesting for readers here in light of Kevin's article, you immediately interpret this in a bad way and accuse him of having a second agenda. Now that's what I call a real bias. I'm sorry you can't do better than that.

Before further flaming me let me point out I have no skin in this game, I have neither a Hasselblad nor a P1 (nor any other MF system) and I do not intend in getting one in the future either. I'm just a member here who can live without conspiracy theories, fanboy wars and accusations that cannot be substantiated.

[Gigi]

Doug -
For what it's worth, I'd hope you'll reconsider your time off.

Yes, it's true that wading into such a hot topic with a revealing history about a competitor might not have been the first thing one might have done....

And at first glance, your list was pretty telling, and seemed negative.

With a bit more thought, this reader stepped back and concluded maybe your list actually suggests these changes weren't so damning, and that it really said to let time tell what works and doesn't. And that the real issue is in the particular details which, however much we all try, are rarely known to outsiders.

Urging a bit of calm here all around, and let's all try a bit of "wait and see".

[BernardLanguillier]

Ahem, somebody who is a P1 dealer posts some pure facts about Hasselblad that might be interesting for readers here in light of Kevin's article, you immediately interpret this in a bad way and accuse him of having a second agenda. Now that's what I call a real bias. I'm sorry you can't do better than that.

Before further flaming me let me point out I have no skin in this game, I have neither a Hasselblad nor a P1 (nor any other MF system) and I do not intend in getting one in the future either. I'm just a member here who can live without conspiracy theories, fanboy wars and accusations that cannot be substantiated.

No intention to flame you. Let's put it this way, I admire your ability to see things in a positive way.

Cheers,
Bernard

[pegelli]

Let's put it this way, I admire your ability to see things in a positive way.

It's actually pretty easy

[DrakeJ]

Congrats to Hasselblad and Perry Oosting!

Clearly Perry has a vision forward for Hasselblad, but it takes a lot of capital to get there. DJI has financial muscles to help Perry with his dreams.

I see only positives! And I'm Swedish

[ErikKaffehr]

Hi,

I guess that DJI may have a different kind of management compared to old Hasselblad.

I have a couple of colleagues who came to our company when Geely was taking over Volvo, there was a change in management style and they didn't appreciate it. That's life.

My guess is that it is a positive development.

Best regards
Erik

I was surprised by:

1. LuLa leaking such a news worthy story, based on "reliable sources". It is a shift towards a rumours approach that, if continued, it will eventually backfire and hit the site's credibility. But I am sure that that is a risk that has been evaluated.

2. All the speculation that is built into the article, and the bias that "being bought by Chinese is a bad thing for companies". This is 2017, for many years, many companies have been bought by Chinese companies, which is better than letting them die.

3. I am sure that if this rumour is true, DJI will invest to have profit on this venture. Of course there will be some changes, but I find the tirades about employees being concerned and the future of new cameras not necessary.

[ErikKaffehr]

I don't think it would make a lot of sense for DJI to invest in Hasselblad unless they had a vision. Let's not forget that DJI is a leading high technology company within it's own sector.

There is almost Zero probability that a company like DJI would invest in a "bling" company. The reason they invest are probably either:

• Seeing synergy effects
• Seeing a need to go into high resolution arial photography
• The owner may simply be a Hasselblad fan

Anyway, it may seem obvious that partnering with a technology company may be far more rewarding than go hand in hands with a venture capital firm that is just caring amount earnings.

Best regards
Erik

Ps. Make Hasselblad Great Again!

Congrats to Hasselblad and Perry Oosting!

Clearly Perry has a vision forward for Hasselblad, but it takes a lot of capital to get there. DJI has financial muscles to help Perry with his dreams.

I see only positives! And I'm Swedish

[spassig]

See attachment about support companies.

Jochen

[Dustbak]

Having just read the article I must say that I find the way it is written fairly negative. Not sure whether that was the intention but that is certainly the way it comes a cross.

Even if it is true and why should it not be true, their are multiple ways to see this. Kevin obviously is more than sceptical. I think it might work out really fine if it is true.

DJI is doing some things really well, have deep pockets and have a vested interest in the well being of HB as well.

Time will tell... (I was very enthusiastic about the AFi and Hy6 too

[cgarnerhome]

I guess I have a different take on Kevin’s article and Doug’s comment.  Perhaps Kevin’s article has too much conjecture and perhaps Doug has an agenda even when he tries not to.  To me, that’s not the point as I would rather have the information as I think I’m capable of sorting out the potential bias in articles.  I happen to personally believe DJI buying Hasselblad is a positive but only time will tell.  I’m more concerned about how Hasselblad has handled the communication of the shipping delays.  I’m strongly vested in Hasselblad and other camera manufactures being successful as we will all benefit.  I do have an order in for the X1D and would love for it to be successful.  Kevin, it seems to me you have written quite a bit on the X1D and in my mind, you have been on balance very positive toward Hasselblad.  Doug, I understand why you might want to leave as a couple of people seem to question your integrity but you have always been clear about your connection to Phase One. Don’t leave the site! Diversity of opinion benefits us all.

[scyth]

the topic is sorely missing Putin, Fancy Bear, Cozy Bear and Grizzly Steppe

[Alan Smallbone]

Well it is always interesting to see how polarized the people on this forum are and the lines that get drawn in the sandbox. Sometimes it gets tedious, I don't think it would be as intense as it sometimes get if it were face to face meeting but who knows.

I can only see it as a positive. DJI is very innovative. And there is a real easy connection for DJI to be interested in Hasselblad, remember Hasselblad did come out with aerial camera designed for larger drones.
http://www.hasselblad.com/special-applications/a5d-aerial
DJI like to lead and if they get integration for commercial and industrial applications with hi-res imaging and long flight times, they come out way ahead. I can easily see DJI moving into larger more commercial aspects and perhaps even eventually into military and surveillance applications. So it is not surprising they increased their share in Hasselblad, they indicated right at the beginning with the first investment that they thought they would acquire more when the time was right.

I think it is an interesting step forward for a lot of technological reasons.

Alan

[Miles Flint]

Given that there has been a lot of angst on this forum and elsewhere about the delay in delivering the X1D I think that Kevin was entitrely justified in publishing the DJI story. After all when LuLa goes to trade shows or do interviews they go as 'Press' and perhaps we might all benefit from a bit more journalistic scepticism and a bit less just reporting of what manufacturers say.  Do we not want LuLa to be asking questions and seeking answers for us readers ?

After all the basic facts of the X1D story were enough to raise questions not just about deliveries of the X1D but about the health of Hasselblad's business.  Their difficulties and mis-steps over recent years are well known but their new CEO seems to have impressed.  I have no detailed knowledge but it seems safe to assume that delayed shipments meant additional R&D costs which will have hit the profit and loss account.  Assuming also pre-orders and customer interest have been greater than forecast by management then there will have been further pressure on what was likely already a weak balance sheet.   More specifically there would have been a need for greater working capital to buy more components and raw materials than planned.  Companies seen to be doing well are normally able to negotiate good payment terms but this becomes a lot harder for a small businesses with a patchy recent track record.  Many a business has gone bust with huge orders from customers simply because of a lack of adequate working capital to turn components into finished product.  Without an injection of capital or debt finance in such situations a board of directors likely have three choices: ask customers/dealers to pay in advance; seek funds from existing or new investors or close the doors.  So I think the news that DJI have increased their stake should be good news both for those waiting for the XD1 and those who wish Hassleblad well.  Quite what it means in future only time will tell but it is not hard to see that the X1D might have put Hassleblad in a very tight corner.

The XDI is not for me but I would like to see Hasselbald succeed. There is clearly a segment in the market for such a product. Innovation and competition is good for both manufacturers and customers. We shall see what 2017 brings.

In the interest of full disclosure I have Phase One and Arca-Swiss cameras and have travelled with Kevin but I write this more from the point of view of someone who once ran a (part) Swedish company which had successfully moved its manufacturing from Sweden to China before I joined them and of someone who is retired but who is not able completely to throw off an interest in businesses and how they are faring.
 

[Kevin Raber]

I want to see Hasselblad to succeed.  If my article came off negative I suppose it is what you read into it.  I love HB and have loved their cameras for a long time.  The first half of the article explains that.  I do hope DJI takes Hasselblad (finally) to the level it should be.  The company has had a lot of turnover in the last ten plus years.  Doug's chart showed that very well.  I touched on it in my story.  I have many people I have known at Hasselblad all the way back to when Skip Cohen was president of the US division.  DJI will keep Hasselblad alive and I hope they will ramp up production and everything that is needed to deliver the large backorders they have for the X1D.  Without DJI that mosy likely would have been a huge challenge.

I just sent the X1D back to Hasselblad after testing it and shooting with it.  I have started to work on the review which is very positive.  The X1D is simply a well thought out, intuitive camera that is really easy to shoot with and produces really nice images.  Maybe, Hasselblad was a bit too optimistic in their delivery promises as it takes a lot to get a camera to right.  As I say in my article if they ship too early and it has problems they are in trouble and by not shipping they are in trouble.  I went right to the CEO and wrote the article before the Holidays on what to expect shipping wise.  To my knowledge, they are shipping but in limited quantities.  And, as was explained in that article they hope to ramp up to larger numbers of units shipped over the next few weeks. 

Hasselblad needs to step up to the plate and let everyone know what is going on.  Dealers, distributors, and end-users need to know when to expect units.  They need to be open with what is going on with the company. I am very hopeful that Hasselblad does well with DJI's help.  Hasselblad is an iconic company and careful consideration to that will be important to see HB remain successful and grow.

If there is news LuLa is here to report it and help them tell the story as we have done in the past year when sitting down with Perry.  And, one more thing, if I sounded negative it might be a bit because I really like Hasselblad and have a fear that new owners, management might forget the legacy the brand was built on.  I truly hope they use the legacy to strengthen the brand today.