Search
× Search

News

Canon releases their third quarter financials
CanonNews
/ Categories: News, Canon Financial News
This post may contain affiliate links(s). An affiliate link means I may earn advertising/referral fees if you make a purchase through my link, without any additional cost to you. It helps to keep this site afloat. Thank you in advance for your support. If you like what we do here, maybe buy me a coffee.

Canon releases their third quarter financials

Well we all know this year has been hard, but how did Canon fare this quarter? Their overall company sales were of course down, with so much of the world suffering through near-catastrophic economic disruptions because of COVID-19. However surprisingly Imaging did quite well this quarter with a 167% increase in profit from Q3 2019 to Q3 2020 and only a net loss of 2% in sales.  What helped imaging is the fact that more people were working from home and needed devices like printers and print cartridges at home.

If we look at just the cameras section of imaging, the results aren't nearly so good, showing across the board drops in both sales and profits.

Let's be realistic, even though most of us love our cameras, they are not considered a necessity to upgrade right now.  There are more important things to either save our money for or spend our money on.

If no one upgrades, then no one gives Canon any money.  This isn't just limited to Canon.  The industry as a whole has seen an unprecedented drop in shipments and sales this year.

Canon is feeling a little bullish, increasing its year expectations in camera sales by 25%, and also increasing their camera profits to increase by 35%.  Canon is also projecting that they will sell 2.7 million cameras this year, far less than last year, but still around their normals if you consider the drop in the overall market to 5.9 million. This is a 46% marketshare projection, in line with what they have most other years.

 


Previous Article Canon Smartphone telephoto design
Next Article Canon trending up in Japan's mirrorless full frame market
Print
blog comments powered by Disqus

Keep In Touch

FacebookTwitterLinkedIn

Our Sponsors

Want to buy me a coffee?

Free Shipping to the USA and Canada*

Use CANONNEWS for $10 off AuroraHDR

Use CANONNEWS for $10 off Luminar

*Conditions may apply

 

Terms Of UsePrivacy Statement© 2021 by CanonNews. This site is not affiliated with Canon Inc. or it's subsidiaries.
Back To Top