Canon Can’t Even Make a Billion Dollars Anymore
By| October 26, 2012
Profits & Revenue Down
Canon’s Q3, 2012 results have been announced and the news is horrible. Canon only had revenue of $10.3 billion and an operating profit of $908 million.
What’s at fault? Well, according to Canon: “negative impact of economic deterioration” in China and Europe. As always, the yen was blamed as well.
The fact that DSLR sales fell may have played a role, as well as the printer business and business-to-business numbers falling.
Are things going to get better in Q4? Not likely, so they may not make a billion dollars a quarter until 2013 when the EF 200-400 f/4L IS 1.4x is on the market at $10,000 a pop.