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Nikkei: Canon hikes 2017 profit outlook on digital cameras, OLED
Nekkei reports that Canon is bullish about it's prospects for the remainder of the year, raising it's profit for the 3rd time in 3 quarters to 63% more than 2016, or 245 billion yen ($2.15 billion).
Firm sales of manufacturing equipment related to organic light-emitting diode displays helped boost earnings. The company said subsidiary Cannon Tokki can't churn out vacuum deposition equipment fast enough to keep up with demand. Unit sales of lithography equipment are expected to at least double last year's tally.
In digital cameras, sales of single-lens reflex models beat expectations, primarily in the U.S. and China, and new mirrorless camera lines also sold well. The yen's softness against the euro compared to the previous year also helped improve margins.
See more about Canon's third quarter results...
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