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Canon has released their 2018 Q1 financial results.
Some photo gear related highlights:
- Increase market share through sales expansion of new products, including mirrorless models
- Improve product mix, and new product composition to raise profitability
- As for interchangeable-lens cameras, we expect the market to continue to contract at a modest rate.
- In the first quarter, although unit sales in the same period last year were at a high level, resulting from the resolution of shortages that arose following the Kumamoto earthquake in 2016, we posted 1.05 million in unit sales, limiting our decline to 3%.
- As the market and our own sales were in line with our plan in the first quarter, we left our projection for the full year unchanged and still expect the market to decline 4% to 11 million units and our own sales to be 5.5 million units, which is in line with last year.
- From a profit perspective, by raising the proportion of sales generated by new products and solidly expanding sales of high amateur models, we will improve product mix.
- This is part of our full-lineup strategy to further stimulate demand for interchangeable-lens cameras and our aim to capture demand from users looking to move up in class in the future. Under this strategy, we consider the EOS M50 to be a driver of sales. It is the first of our entry-class models to feature 4K video and it incorporate the same AF functionality found in higher end models. This camera also realizes operability that makes it easy to enjoy taking pictures even for beginners. Through these kinds of new products we will stimulate demand and effect improvement in our market share.
The full breakdown of Canon’s 2018 Q1 financials is after the break.
2018 Q1 Results