Asia Nikkei Review: Surprise camera comeback drives Canon earnings rally

More good news and information based upon yesterday's fiscal earnings report from Canon.  Asia Nikkei review gives a glowing article to Canon's continued growth and it's efforts to broaden the reach of the company into the future.

They have an interesting comment about the camera market, stating that sales exceeded manufacturing during parts of the year and is still ramping up.

Cameras and multifunction devices -- which perform some or all of the work of printers, scanners and copiers -- once made up Canon's backbone, providing nearly 90% of sales. But the proliferation of smartphones, among other headwinds, crimped the market and earnings began to fall.

Yet in 2017, even as many abandoned hope for growth in such operations, the digital camera market rose for the first time in five years, aided by people's desire to shine on the photo-sharing social media platform Instagram. Healthy sales of mirrorless cameras propelled Canon to a 22% operating profit gain in a segment that had been on an uninterrupted decline. The surprise turnaround left supply nearly unable to catch up with demand at one point, and a major camera plant in Nagasaki Prefecture is still working to ramp up output.

Richard CanonNewsRichard CanonNews

Richard has been using Canon cameras since the 1990s, with his first being the now legendary EOS-3. Since then, Richard has continued to use Canon cameras and now focuses mostly on infrared photography. Richard is the founder and editor of CanonNews since 2017, and has worked as a writer on CanonRumors and other websites in the past.

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