This article shows that Canon is making much more money despite the fact that P&S sales are decreasing (smartphones are occupying P&S cameras market). In this site more than 95% of readers (of course, it is my subjective opinion) are DSLR owners / users. Myself and other readers are really upset as Canon is making profits, however, does not invest such profits into R&D and does not introduce n/.ew cameras or lenses with significant improvements. For example 7D is 4 years old - it means that this model is a cash cow. Newly introduced models lack of really substantial improvements, basically Canon is using old platforms.
Regarding lenses - Canon lenses are good quality, however, they are very expensive comparing to third parties. When looking at Tamron's and Sigma's performance in market we see substantial improvements in their lenses quality (which now approximates to Canon) for significantly lower price. Canon is loosing ground in this area.
Also, many customers really expects reductions of prices of Canon production due to Yen's performance in the market, however, Canon is making significant profits and disappointing customers who would like to buy cheaper Canon cameras or lenses. Such approach is very dangerous as many customers are dissatisfied and are buying third party lenses as well as changing Canon religion to others.
When I look how significant improvements are made in electronics (computer chips, computers, TVs etc.) photography area is lacking innovations. 4-5 year old sensors, DIGIC V are used. What I would really expect that Canon would make really serious investments into sensors, camera chip area, would renew its lenses line and become progressive company. Now I see only stagnant company which is milking the same almost dead cow and enjoying short term profits.
Also, I did not mention mirrorless cameras market, which is supposed to replace DSLRs in the future. Canon completely lost this market to competitors and passively watching what others are doing. I doubt that somebody knows Canon's brand after 10-15 years if the follow current strategy.