Lake Success, N.Y., April 1, 2008 - Today Canon and Nikon are proud to announce a new joint venture project that promises to change the landscape of the DSLR market forever. The joint venture project, Canikon, has been in the making for the past 16 months and will result in a new open format DSLR system, for which Canon and Nikon are committed to streamlining lenses and accessories.

Open Format Standard

The reduced R&D costs of the Canikon project will allow both companies to pass savings onto consumers by lowering the prices of DSLRs, lenses and accessories across the board. The project will unveil three new open format DSLRs at Photokina 2008, which takes place in September, 2008 in Cologne, Germany.

Aside from cost-savings, some of the exciting developments will allow the use of both Canon and Nikon lenses and accessories on new open format DSLRs manufactured by both companies. While each company will continue to produce its own branded DSLRs, Canon and Nikon are excited about the prospect of a cross-pollination of EOS-mount and F-mount lenses. This bold commitment will break industry traditions and give DSLR users more choices than previously thought possible.

Breakthrough 40-Megapixel Full-Frame DSLR

As a preview of coming events, one of the new Canikon DSLRs will be a breakthrough 40-megapixel, full-frame camera which brings professional imaging excellence and innovation into sharper focus than ever before. While Canon's EOS-1D series has dominated the 35mm-based professional Digital SLR market for the past six years and Nikon's ultra-low noise D3 has taken available-light photography to new heights, the new open format, 40-megapixel Canikon Digital SLR takes both companies into the realm of high-fashion and commercial photo studios where bulkier, medium-format cameras previously reigned. Recent R&D breakthroughs from the project will allow this powerful, professional DSLR to carry a retail price under $2,000.

Prosumer and Entry-Level Open Format DSLRs

The Canikon project will also unveil a prosumer model and a entry-level model at Photokina 2008. Specifications and details of all the new open format DSLRs will be available over the next several months. All of the new Canikon DSLRs will be available in November 2008 in time for the holiday shopping season.

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