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Posts Tagged ‘forecast’

Report: Canon is lowering profit forecast 20% due to shrinking camera sales

20 Apr

According to a report [partial paywall] from Nikkei Asian Review, Canon is planning to lower its profit forecasts for the 2019 fiscal year by 20 percent — amounting to approximately 50 billion yen — due to shrinking camera sales.

What’s to blame for this downturn? According to Nikkei, the digital camera and semiconductor markets are shrinking due to the increasing capabilities of smartphone cameras. Below is the full translated section of the report:

‘Canon will lower its forecast for the fiscal year ending December 2019. Consolidated operating profit (US GAAP), which indicates the mainstay of the business, is likely to decrease by 20% over the previous fiscal year to just over 270 billion yen. About 50 billion yen lower than the previous forecast. The shrinking of the digital camera market and the deterioration of the semiconductor market due to the functional improvement of smartphones (smartphones) will hit hard.’

This report echoes the drop in global camera sales reported by the Japanese Camera & Imaging Products Association (CIPA) earlier this month.

Articles: Digital Photography Review (dpreview.com)

 
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Canon boosts 2017 profit forecast following strong Q1 financial results

27 Apr

Canon’s recent acquisition of Toshiba’s medical equipment unit has helped spur strong first fiscal quarterly financial results for the camera company, and as a result it has increased its full 2017 operating profit forecast. In January, Canon estimated that it would see a yearly profit of 255 billion Yen; following the favorable Q1 2017 results, the company now estimates the profits will be higher at 270 billion Yen. However, the company’s outlook on 2017 camera unit sales are gloomier, with ILC unit sales dropping 7% and compacts down 13%, working out to -9% overall.

Overall, the company saw a year-on-year Q1 operating profit increase of nearly 89%, rising from 40.09 billion Yen in Q1 2016 to 76.67 billion Yen this past first quarter. According to Reuters, Canon Executive VP and CFO Toshiz Tanaka stated during the company’s earnings conference that mirrorless cameras are helping drive the company’s camera sales. The company’s financial report notes that ‘healthy demand’ for Canon’s EOS 5D Mark IV has helped drive the company’s interchangeable lens camera sales. First quarter revenue from camera sales were up over 7%, though unit sales were unchanged since Q1 2016.

Canon likewise saw its compact-system cameras’ sales increase in Europe and Asia (6% globally), and though overall digital compact camera sales volume dropped in the last quarter, Canon says the PowerShot G-Series and other ‘high-value-added models’ experienced ‘solid demand.’ Things aren’t looking great for the digital compact camera market overall, where Canon sees sustained market contraction for its budget-tier models (-6% globally). However, developed countries’ decreased demand for interchangeable lens digital cameras is ‘decelerating steadily,’ the company says. 

Canon also touched on the topic of last year’s Kumamoto earthquake damage, saying that the resolution of the shortages caused by the earthquake have resulted in ‘temporary moderate growth’ for interchange lens digital cameras. 

Via: Reuters, Canon 1, 2

Articles: Digital Photography Review (dpreview.com)

 
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Erez Marom: Why you shouldn’t always believe the forecast

11 Mar

Landscape photographer Erez Marom has taken photographs all over the world in all manner of locations, in all kinds of weather conditions. But whereas many landscape photographers are slaves to the weather forecast, Marom has learned that some of his best shots come from the most unlikely situations. Click through to read more, and see some stunning images

Articles: Digital Photography Review (dpreview.com)

 
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Nikon cuts 2013 sales forecast citing poor mirrorless camera sales

09 Aug

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Nikon has lowered its sales and revenue estimates for this year, prompting a rethink of its 1 Series mirrorless cameras. Nikon cites poor market conditions, a large drop in compact camera sales and, most interestingly, a ‘deceleration’ in mirrorless camera sales. Nikon’s measures against these changing conditions include accelerating production of entry-level DSLRs and ‘reconsider[ing] product planning’ of their Nikon 1 mirrorless camera system. Follow the link for additional details.

News: Digital Photography Review (dpreview.com)

 
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