Nikon suffered a 31% drop in global sales of interchangeable-lens digital cameras in the three months to 30 June, according to figures released yesterday.

The firm blamed ‘sluggish markets in Europe and Americas’, though it added that cost cuts boosted profit margin over the same quarter last year.

Nikon sold 1.1 million interchangeable-lens cameras, compared to 1.59m a year earlier.

Sales of interchangeable lenses fell 28%, while demand for Nikon’s fixed-lens compact cameras crashed 43%.

Earlier, we reported that worldwide shipments of compact system cameras jumped 12.8% in the first half of 2014, as DSLRs suffered a 22% decline.