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Canon released their financials for the fiscal year of 2024, and from an imaging and overall company outlook, Canon looks to be doing strong. All indicators are good. Canon is not doomed.
Before we delve into imaging, which is always the hot topic here, there were other things to note that are near and dear to my interests.
The lithography department got a huge boost last year, selling 233 units, up from 187 the year prior. Also unknown to me, Canon's packaging equipment is considered industry standard, and with advanced chips requiring advanced packaging techniques, it sounds like Canon's equipment is selling well in this regard. So much so that Canon is predicting selling over 300 in 2025.
Canon is also continuing the joint evaluation and verification phase to end with nanoimprinting. That could spell great things for the industry if it can efficiently deliver on flash and logic devices in the sub 5nm scale.
To handle all this increased demand, Canon is building a new production plant expected to be completed by June of this year.
Imaging
Imaging did well, and there's some interesting tidbits in this article. Canon notes that their 4th quarter seaon sales had an increase of 14.6% and that resulted in a 6.5% increase for the entire year. So Canon certainly finished off the year strong by virture of the EOS R5 Mark II and the EOS R1.
In addition to launching two new models in the second half of the year, the EOS R5 Mark II for professionals and enthusiasts and the EOS R1, our flagship model, we also conducted sales promotions for entry-class models. As a result, net sales of cameras in the selling season fourth quarter increase 14.6%, resulting in a 6.5% increase for the full year.
Overall, Canon sold less units in 2024 than they did in 2023, dipping down 1% in unit sales, but still finished strong when it comes to sales in terms of revenue, with increases of 14.6%. That's what happens I guess when you release two expensive camera units.
Canon and Compact Cameras
Canon then mentions something that hasn't been mentioned in their financials for years – compact cameras. As we have been nagging and talking about for most of last year, compacts have to make a comeback. Apparently Canon thinks so too (or listened to me). SNS seems to be an acronym associated with Social Networking Service.
[D]ue to the spread of SNS, the popularity of compact cameras that can easily capture images that differ from those of smartphones is growing among young people. As a result, we are seeing a buildup of orders, mainly for higher priced models like the PowerShot G7 X Mark III. We aim to expand overall camera sales by 8.4% through increased production and supply.
This directly leads into our newest rumor about the Canon Powershot V1. Canon also mentions this in thier overall corporate speach summary as well;
As for Imaging, starting with cameras, we will work to increase sales of full-frame cameras, particularly the EOS R1 and EOS R5 Mark II, and expand sales of RF lenses. Additionally, we will expand sales by increasing production of compact cameras, which are gaining popularity mainly among young people, to achieve 8.2% sales growth for cameras overall.
Overall though, the numbers from the imaging division are stunningly good.
One element I miss from Canon's financial summary is what they feel the outlook is for the entire industry. They have gone away from that they last few years.
Canon does mention that they are a bit nervous about the global economy in the most potlically correct way possible;
As for the global economy, due to heightened geopolitical risks and policy changes linked to changes in governments in various countries, the future is expected to remain uncertain on both political and economic fronts.
It will be curious to see how the industry fairs this coming year and how companies react to the increased importance of compact cameras, and hopefully, compact ILC's.
If you want to look at the data yourself, the PDF sources are:
Canon is Groomed for success
vs
Doomed to failure
And good news for Canon.
Only the release of a 700mm f/6.3 DO lens (or a 300-600mm f/5-6.3 DO) for less than $9000 could possibly breathe life into the barely hanging on carcass known as Canon.
(Actually, I have no idea about Canon's prospects, but I really want that lens!!😎).
That could be because of delays getting the R5ii/R1 into people's hands or perhaps another product was delayed from 2024 to 2025.
It is good that they are still forecasting growth for 2025
There would be a lot of new revenue that way but I am sure that someone (who shall not be named) would have something to say about it! Maybe a US company could buy Canon as it is only valued at USD43B.
In general I liked this report, though I am a bit concerned they are not talking about APS-C cameras.
Reuters: https://www.reuters.com/technology/...eal-curb-chipmaking-exports-china-2023-02-01/
you forgot trolling me with AF tilt shift lens patent applications as well.
I would rather prefer a 200-500/4 with 1.4TC, If they want me to spend bigger amounts of Money for their stuff.
there's alot of moving parts to it (pun not intended)
The lens design is completely unique, and it requires a literal crap ton of firmware development on the cameras.