Canon Can't Even Make a Billion Dollars Anymore

[Canon Rumors]

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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.

Source: [EG]

cr

 

[vuilang]

ouch...
not even 1/10 of revenue?

[Lee Jay]

Please read the !@#$% report!

http://www.canon.com/ir/results/2012/rslt2012q3e.pdf

"Demand for interchangeable-lens digital cameras continued to realize robust growth in all regions while the market for compact digital cameras shrunk due to the stagnation of the global economy."

"Within the Imaging System Business Unit, despite efforts to achieve sales growth with the competitively priced EOS Digital Rebel series along with the EOS 5D Mark III and EOS 60D advanced-amateur models, sales volumes of interchangeable-lens digital cameras decreased from the year-ago period due to a delayed new-product launch."

[Dylan777]

The revenue will go up if Canon changes the price tag on these products:

1. 5D III to $2999
2. 24-70 II to $1900

[thien135]

Massive discount on cameras (like 5d3) and lens (24-70 L II will boost sale past 1 billion   .....or not

[thien135]

Dylan and I got the same idea. woot

[Skulker]

only $908 Million pounds profit in a quater.

Hardly worth getting out of bed for. Rubbish its only about $10 Million a day, don't know why they bother.

[fotoray]

Poor Baby

[jcollett]

I wish Canon would take note of what foreign car manufactures did; diversify their manufacturing base to their primary purchasing markets like the good 'ol US of A.  I sincerely doubt that a US manufactured camera or lens will cost more to American customers plus they would get the cred of MADE IN THE USA.  Many people will purchase or switch based upon this fact alone.  It helped steer my purchase of a Volkswagen Passat; it was manufactured in Tennessee.

[RLPhoto]

The cause? A series Underwhelming products, Inflated Pricing, And a series of restrictions based on profit rather than R&D. IE: 1Dx F/8 focusing.

[Sunnystate]

What a SHOCK!
Its just the beginning, or maybe they will start refreshing the entire product line just about soon, like next January?

[vuilang]

I wish Canon would take note of what foreign car manufactures did; diversify their manufacturing base to their primary purchasing markets like the good 'ol US of A.  I sincerely doubt that a US manufactured camera or lens will cost more to American customers plus they would get the cred of MADE IN THE USA.  Many people will purchase or switch based upon this fact alone.  It helped steer my purchase of a Volkswagen Passat; it was manufactured in Tennessee.

Made in USA  is probably better than everywhere else but Germany or Japan

[RC]

The revenue will go up if Canon changes the price tag on these products:

1. 5D III to $2999
2. 24-70 II to $1900

Yip, I'll order a 5D3 when it drops below 3k

Edit:  I'm talking Amazon, B&H or Adorama type dealers, not questionable ebay sellers

[neuroanatomist]

...maybe they will start refreshing the entire product line just about soon, like next January?

In general, reduced revenue means cuts...and often, R&D is one of the first cuts to be made.  Sad, but true. 

[Mt Spokane Photography]

If you think Canon is hurting, the others are in much worse shape.
 Check out Nikon's  SONY's huge plummet in sales (78%).  They lost $15 million, so any profit at all would look good to them.
Nikon profit is down 48%, almost all in imaging products, their business products only lost a little.
Right now, the big loser is Sony, followed by Nikon.  The entire industry is in a tailspin.