On Feb 13, Nikon issued a "Notice of Recognition of Extraordinary Loss"; canceled 3 new cameras they announced over a year ago, and announced an expected staff reduction.
Tony Northrup's video does an in-depth analysis of what this means for photographers and for Nikon as a camera company. He also gives his opinion of what Nikon needs to do to rescue their camera business.
As Tony explains, this isn't a disaster for Nikon, they've just been making some bad technology decisions. Older camera companies like Nikon and Canon need to be paying close attention to what's going on in the SmartPhone industry because SmartPhones are driving people's expectations of the way user interfaces and software should work.