Welcome to our roundup series where we will hit on several gear news and rumor topics each day. This gives you a chance to get caught up on all of the day’s news and rumors in one place. Make sure to check back daily for the latest gear news, rumors and announcements.

Canon Profits Drop 16% in Q2

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Canon has announced a cut in its projected earnings for 2016 following a 16% drop in profits in Q2 of this year. The drop in profits, Canon says, is due to consumers continuing to use their smartphones to take pictures instead of compact cameras.

The company’s second quarter net profit was just 68 Billion Yen – roughly $550million – down from 81 Billion Yen last year. Both Canon and Nikon now are reporting lower than expected sales – both blaming the compact market.

One also has to wonder the effect of the growing mirrorless market, with companies like Sony and Fuji picking up steam in the more advanced photographer markets. You can get all the details about this Canon profit drop, here.

Nikon To Announce New 200-500mm?

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According to the latest Nikon rumor buzz, the company is expected to announce a new 200-500mm lens “soon.” The lens would obviously be meant to go up against the new Canon 100-400mm, Sigma 150-600mm, and Tamron 150-600mm.

So far, all we know is the focal length, and that the lens is coming. Details about things like VR and aperture are not known at this time (Though I can’t imagine Nikon producing a lens with that focal range and not including VR).

Another rumor states that the Nikon 24-70mm f/2.8 VR is expected to be announced soon as well and pointed to the possibility of these maybe being announced together.

New Zeiss Batis OLED Screen Confusing New Owners

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The big hubbub over the weekend in Sony land was it coming to light that owners of Zeiss’s new Batis lenses were running into problems with the screen going dead. Obviously, this would be a huge problem, and not something characteristic of a Zeiss product.

Luckily, as it turns out, it seems that this could be a mistake and user error. One user reporting “I had mine ‘die’ on my first day too. It didn’t die. I just turned the focus ring too far and somehow the setting switched it off. You can configure the display by turning the focus ring very far. It’s described in the manual.”

So it seems the OLEDs on the Zeiss Batis lenses are not going dead, but in fact, some user error is at play here. So word of warning to those who buy a product, especially one with new features like this Zeiss: read the manual. If you have or are going to buy one of these Batis lenses, keep this in mind before you freak about your OLED going dead.

What are your thoughts on today’s roundup? What news/rumors did we miss? What would you like to see covered in future roundups? Leave a comment below and let us know what you think!