Nikon Killing 4K Compact Camera Line That Never Launched

Some things just aren’t meant to be: A year after Nikon announced the imminent launch of a new line of 4K compact cameras, the company has scrapped the DL series of devices and is looking into restructuring plans after a year of sinking sales.

Nikon announced today that it cancelled the line of cameras after determining they likely wouldn’t be profitable.

The company, which has seen sales fall 8.2% in the last year, never actually sold any of the three DL series cameras, as the planned June 2016 launch was delayed because of image processing issues.

“Since then, everyone involved has worked very hard to develop products with which our customers will be satisfied,” the company said in a statement. “However, it has been decided that sales of the DL series will be canceled due to concerns regarding their profitability considering the increase in development costs, and the drop in the number of expected sales due to the slow-down of the market.”

Engadget reports that competitors like Cannon and Sony have debuted similar cameras during the same timeframe.

In addition to announcing that it would do away with the 4K compact cameras, Engadget reports that Nikon is also undergoing “fundamental” restructuring that will include the cutting of about 1,000 jobs through voluntary retirement.