The concept of prices as a function of cost is deeply ingrained in our minds, but it is not really true.
I'm still laughing about this quote above
btw Canon make FX gains, usually when they repatriate their cash back from overseas periodically and there is a 1-6 month lag from when they sold gear in say USA with monies deposited in Bank of America, and the time when they transfer their overseas cash back to Japan (too costly to do this everyday, so maybe quarterly). So they sell a 5D3 for a MAP of quarter of a million yen (Canon e.g. charges B&H 200,000 Yen or $2200 and they sell it for a 18% markup so $2,00 to the customer), however that 200,000 yen or 2,200 dollars that Canon received in NY in December was put into a bank, later to be transferred back to Japan in April...but hey presto that 200,000 yen 5D3 is now 220,000 yen as the dollar appreciated 10%....but the Canon customer was not affected. Now a few months later B&H or Adormama go to Canon to buy gear and see that it ONLY costs them $2000 for a 5D3 wholesale because the Yen has dropped. Q.E.D.
Also, the asinine comments here on this site about Canon reaping extra profits etc., and multinationals bearing the FX risk is all pure NONSENSE - defies the Laws of Comparative Advantage in Economics plus it completely and utterly NEGATES THE RATIONALE FOR BILATERAL EXCHANGES RATES if Swiss Pharma are pricing in Sterling, Ford & GM are pricing in Yen, and British Alcohol Manufacturers are pricing in Dollars....then why have CURRENCIES AT ALL???