As Camera Sales Fall, Canon Earnings Slip in Latest Quarter, Cuts Forecast

Canon Powershot CMOS Digital CameraApril 28, 2015 – Canon Inc. of Japan reported yesterday that its earnings declined nearly 29 percent in the three months ending March 31, 2015, due mainly to reduced demand for cameras.

Net sales for the three-month period were down 1.3 percent to 33.9 billion yen ($284 million), while net earnings were down 28.7 percent, both versus the same period a year ago.

However, Canon says sales of MFPs/copiers and laser printers enjoyed steady growth that has continued from the previous year. But, despite “solid growth” in the US market, interchangeable-lens digital cameras continued to face severe conditions in other regions, while sales volume for digital compact cameras decreased in all regions compared with the same period of the previous year. Net sales of inkjet printers also decreased, mainly in Japan and emerging economies.

The firm lowered its projections for the fully year, with it now forecasting net earnings of 255 billion yen, down from an earlier forecast of 260 billion yen. It expects sales of 3.86 trillion yen for the full year, down from the 3.9 trillion yen it earlier forecast.

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