Olympus reduced the operating loss of its imaging business by 39% to 2.7 billion yen (around u00a317 million) for the six months to 30 September.

Sales of Olympus mirrorless system cameras fell just 3% in value terms, though compact sales dropped 26.5%.

Olympus says it has reduced its compact camera inventory by 40% since March, on a unit basis.

Meanwhile, Nikon announced it sold 13.6% fewer interchangeable-lens cameras in the six months to 30 September, compared to the same period last year.

Demand for Nikon compact cameras fell 30%.

Nikon’s imaging division reported a 26% drop in operating income while the company’s overall profits declined 57.5%.