Nikon is set to acquire US camera manufacturer RED. With the new development, it means that RED will become a Nikon subsidiary as it reportedly attempts to expand into the digital cinema camera market.
Nikon is Set to Acquire RED
Nikon has announced its acquisition of RED Digital Cinema, the renowned company founded by Jim Jannard (the creator of Oakley). RED Digital Cinema is renowned for its digital cinema cameras, including the RED One 4K and V-Raptor X. While the exact terms of the deal were not disclosed, Nikon’s press release revealed that RED will transition into being a fully-owned subsidiary of Nikon.
This acquisition marks Nikon’s strategic move to venture into the professional digital cinema camera market, leveraging RED’s expertise in cinema cameras, particularly its distinctive image compression technology and color science.
RED cameras have been prominently featured in the production of numerous blockbuster films and TV shows, including Marvel movies like Guardians of the Galaxy Vol. 3 and Captain Marvel, acclaimed nature documentaries like Planet Earth II, and popular series like Squid Game, Mindhunter, Peaky Blinders, and The Queen’s Gambit.
The News of the Acquisition Was Announced By RED President on Instagram
The news of the acquisition was announced by RED president Jarred Land on Instagram, accompanied by an image and a teasing caption, “Heh heh heh…” Founded in 2005, RED Digital Cinema currently employs around 220 individuals and is headquartered in Foothill Ranch, California, as outlined in Nikon’s press release.
Jared’s Announcement on His Facebook Page
In a press release shared on his Facebook page, Jarred Land expressed excitement about the acquisition and the opportunities it presents for both companies.
“This acquisition marks a significant milestone for Nikon, melding its rich heritage in professional and consumer imaging with RED’s innovative prowess. 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.”
RED’s Lawsuit against Nikon
Less than a year following the dismissal of RED’s lawsuit against Nikon over alleged infringement of its video compression patents, the acquisition between the two companies has been finalized.
In 2022, RED filed a lawsuit against Nikon, claiming that the firmware update for Nikon’s Z9 camera unlawfully utilized its data compression technology. In response, Nikon challenged the validity of RED’s patents, leading to the dismissal of the case in April of the following year.
RED’s Venture into the Smartphone Market In 2018
While RED has gained recognition primarily for its digital cinema cameras, the company made a notable venture into the smartphone market in 2018 with the introduction of the RED Hydrogen One. Featuring a holographic display and compatibility with modular add-ons, the phone aimed to make waves but encountered significant criticism and was discontinued within a year of its release.
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