BIG: How to Survive in Covid-19 Crisis

Nowadays it seems that Big Camera Corporation Public Company Limited (BIG) isn’t as big as its “name” after suffering from a downturn in financial performance for the last 4 years.   

In 2016, BIG’s total revenue hit 5,663 million baht and a net profit was at 846 million baht with a net profit margin of 14.59%. In 2017, BIG reported a higher revenue up to 6,043 million baht, but net profit was down to 774 million baht with a net profit margin of 12.82%.

Meanwhile 2018’s net profit dropped to 549 million baht with a net profit margin of 9.50%, even through the total income had surged to 5,786 million baht. And in 2019, BIG’s revenue was at 4,560 million baht and a net profit shrank to 207 million baht with a net profit margin of 4.56%.

Previously, BIG had established the subsidiary company, BIG Camera Holding Company Limited in order to expand its business overseas. Unfortunately, the outcome wasn’t as expected as global economy is experiencing unprecedented disruption from COVID-19, resulting BIG’s new journey to go down in flames and ended up with the decision to shutdown its newly subsidiary, Big Camera Holding Company Limited. 

When revising a domestic market situation during the first quarter of this year, BIG had 44% decrease from sale and service revenue, making a turnaround to book net loss of 19 million baht compared to net profit of 106 million baht in 2019.  

For the second quarter, it’s likely that the BIG’s performance won’t be much different from the previous quarter as its stores had been closed during the month of March – May.   

At the same time, the rise of smartphone photography has had devastating camera popularity due to advances in technology with a significant improvement. And it could turn the camera from mass product to niche market in the near future.

Interestingly, how will BIG survive in this competition. It’s an urgent issue to be solved immediately, otherwise “BIG” will only be the name, not its size.