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    Home»Canon Business General»Canon releases 2nd Quarter 2020 Financial Results
    svg+xml;base64,PHN2ZyB2aWV3Qm94PScwIDAgNzI4IDEwMjQnIHhtbG5zPSdodHRwOi8vd3d3LnczLm9yZy8yMDAwL3N2Zyc+PC9zdmc+ - Canon releases 2nd Quarter 2020 Financial Results

    Canon releases 2nd Quarter 2020 Financial Results

    By Canon RumorsJuly 28, 202029 Comments3 Mins Read Canon Business General
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    Canon Inc. has released its financial results for the 2nd quarter of 2020. The COVID-19 pandemic has obviously had a large impact on camera and lens sales, especially with the delays in launching the EOS R5 and EOS R6.

    The bolded area at the end of the statement below shows Canon will be entering or developing new spaces for imaging.

    From Canon Presentation Material in regards to imaging:

    As for the second quarter, due to restrictions placed on people’s movement, there was fewer image capturing opportunities, such as travel and other events. As a result, the willingness of consumers to purchase cameras dropped significantly, leading to a large decline in our sales as well.

    As for camera demand, despite the resumption of economic activity, initially in China, and now in the United States and Europe where we saw demand bottom out in April and start to improve from May, we believe it will take time for sales to recover as cameras are considered a luxury item. For the full year, we expect the interchangeable-lens camera market to be down 40% to 5.4 million units. In terms of our own unit sales, we expect a similar rate of decline.

    Although the environment that surrounds this business is very challenging, we will simultaneously launch two models in the third quarter, the EOS R5 and EOS R6, facilitating our shift to high value-added products. These two models offer significantly improved performance in every way, including auto-focus, image stabilization, and video capture. These are important new cameras that strengthen our lineup of full-frame mirrorless systems that have evolved since the release of the EOS R in October 2018. By enhancing our lineup of dedicated lenses at the same time, we will raise the appeal of the entire system and solidify our position in the full-frame camera market.

    Triggered by COVID-19, cameras, which have traditionally been used for image capturing and image sharing, are taking on even more roles, including communication. For example, as the world of telecommunication expands to include remote meetings etc., the need for even higher precision and accuracy will raise. We are positioning ourselves to capture new demand, for example, addressing the rapidly growing demand for video meetings, we released software that allows our EOS cameras to be used as web cameras. We are also preparing camera bundles that include necessary image capturing accessories for video creators.

    Furthermore, we will enhance our new concept camera initiative, which gives no regard to traditional camera concepts, as we prepare to launch the new models within this year.

    • Q2 2020 Results
    • Q2 2020 Presentation Material
    • Q2 2020Supplementary Data

    Go to discussion...

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    29 comments

    1. unfocused
      July 28, 2020 at 1:51 pm
      ...we will enhance our new concept camera initiative, which gives no regard to traditional camera concepts, as we prepare to launch the new models within this year.


      What does that mean??? Are they launching new models of concept cameras? Or are they launching new models of production cameras based on past concept cameras?

      I'm guessing it's the former. New concept cameras being previewed to grab attention but maybe nothing that will reach production.
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    2. July 28, 2020 at 1:52 pm
      "We are positioning ourselves to capture new demand, for example, addressing the rapidly growing demand for video meetings, we released software that allows our EOS cameras to be used as web cameras"

      Maybe they can make a web cam with a L series lens on it for the masses and finally get someone making non crap web conferencing possible.
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    3. July 28, 2020 at 1:54 pm
      What does that mean??? Are they launching new models of concept cameras? Or are they launching new models of production cameras based on past concept cameras?

      I'm guessing it's the former. New concept cameras being previewed to grab attention but maybe nothing that will reach production.

      Development preview of the R1 would make a big splash along side the 300mm f/2.8 and 500mm f/4. Showing off mirrorless tech(ok probably DO but they'll market it as mirrorless) to make those lenses more handhold able than ever..... a nice wee dream.
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    4. jam05
      July 28, 2020 at 2:05 pm
      What does that mean??? Are they launching new models of concept cameras? Or are they launching new models of production cameras based on past concept cameras?

      I'm guessing it's the former. New concept cameras being previewed to grab attention but maybe nothing that will reach production.
      Earnings aren't based on grabing attention.
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    5. jam05
      July 28, 2020 at 2:07 pm
      Earnings aren't based on grabing attention.
      EOS R cameras were concept cameras at one point. As is the Cine 12k camera at this moment.
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    6. unfocused
      July 28, 2020 at 2:11 pm
      Development preview of the R1 would make a big splash along side the 300mm f/2.8 and 500mm f/4. Showing off mirrorless tech(ok probably DO but they'll market it as mirrorless) to make those lenses more handhold able than ever..... a nice wee dream.
      Agreed. But none of those products would be concept cameras.

      Concept cameras tend to showcase things that are many years away and unlikely to actually be a production product ever. Like the massive backpack camera Canon showed off almost a decade ago that had a 100 mp plus sensor. Or the camera they used to shoot videos of rare fireflies also a number of years back. They are analogous to the crazy concept vehicles car shows are known for, but which are never going to be actual production models.
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    7. Mt Spokane Photography
      July 28, 2020 at 2:11 pm
      What does that mean??? Are they launching new models of concept cameras? Or are they launching new models of production cameras based on past concept cameras?

      I'm guessing it's the former. New concept cameras being previewed to grab attention but maybe nothing that will reach production.
      They do not present something to stockholders unless it is going to happen. Its not PR. As to what it is, Canon has tried numerous new designs over the years, none have stuck. They will keep trying because they perceive that younger buyers want novel solutions. Vlogger cameras, webcams, smartphone add-ons, body worn cameras, dash cams, there are a lot of ways they could go.
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    8. BeenThere
      July 28, 2020 at 2:25 pm
      They do not present something to stockholders unless it is going to happen. Its not PR. As to what it is, Canon has tried numerous new designs over the years, none have stuck. They will keep trying because they perceive that younger buyers want novel solutions. Vlogger cameras, webcams, smartphone add-ons, body worn cameras, dash cams, there are a lot of ways they could go.
      It’s hard to compete with ubiquitous phone cams and go pros at the bottom end. What does that leave beyond higher end Cine, M, and FF MILC Plus industrial cameras.
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    9. unfocused
      July 28, 2020 at 2:27 pm
      They do not present something to stockholders unless it is going to happen. Its not PR. As to what it is, Canon has tried numerous new designs over the years, none have stuck. They will keep trying because they perceive that younger buyers want novel solutions. Vlogger cameras, webcams, smartphone add-ons, body worn cameras, dash cams, there are a lot of ways they could go.
      I would guess that you may be correct in that they are experimenting with concept cameras that are completely out of the traditional camera mode. I'm just curious what that might be, since it seems surprising they would reference this initiative to stockholders without providing any information about the initiative. I would not expect they would provide any information about the concept cameras themselves, but I would have thought they might explain what this new initiative is.
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    10. Quarkcharmed
      July 28, 2020 at 3:00 pm
      Concept cameras?
      Hmm... maybe modular system with RF mount, like Phase One?
      • Reply
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    11. nchoh
      July 28, 2020 at 3:42 pm
      What does that mean??? Are they launching new models of concept cameras? Or are they launching new models of production cameras based on past concept cameras?

      I'm guessing it's the former. New concept cameras being previewed to grab attention but maybe nothing that will reach production.

      " We are positioning ourselves to capture new demand... "

      "Furthermore, we will enhance our new concept camera initiative, which gives no regard to traditional camera concepts, as we prepare to launch the new models within this year. "

      This being in the quarterly report, I would say, that's what Canon will do - release new concept cameras. I sounds to me that Canon has thrown their old marketing book out the window as they know their traditional camera market is quickly dwindling and they need to find new demand for their existing core products (read imaging). It is reflective that they are pulling out all stops and giving the remaining consumers everything they want in their cameras -no cripple hammer.
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    12. Max TT
      July 28, 2020 at 4:01 pm
      Here is an idea, how about cameras that have the necessary cooling system to match it capabilities and doesn't overheat... How about about that concept Canon!
      • Reply
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    13. TominNJ
      July 28, 2020 at 4:19 pm
      Here is an idea, how about cameras that have the necessary cooling system to match it capabilities and doesn't overheat... How about about that concept Canon!

      not an easy thing to do. A fan would add noise, vibration and a lot of bulk and increase power consumption. How do you ventilate the camera while keeping the dust out?
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    14. TominNJ
      July 28, 2020 at 4:32 pm
      Concept cameras?
      Hmm... maybe modular system with RF mount, like Phase One?

      speculation:

      a macro specialty camera with focus bracketing and compositing built into it

      a high fps camera for slow motion stuff

      a time lapse camera

      a camera disguised as a coffee cup for street photography
      • Reply
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    15. SteveC
      July 28, 2020 at 4:56 pm
      not an easy thing to do. A fan would add noise, vibration and a lot of bulk and increase power consumption. How do you ventilate the camera while keeping the dust out?

      It can be done, by moving the heat to a plate outside the sealed area, and ventilating that with a fan. Imagine a built-in grip (a la the 1 series) that has fans in it, blowing air along what would otherwise be the bottom of the camera.

      But that wouldn't, by itself, solve the noise and vibration issues with a fan.
      • Reply
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    16. amorse
      July 28, 2020 at 4:58 pm
      Very interesting. I keep coming back to a few different rumours on the note of different concept cameras coming.

      That note of another RF mount camera coming this year in addition to adapters for PL indicate a video-focused camera is coming. Part of me wonders if they have a different form factor in mind for that 45MP 8K sensor which blurs the line a bit more between video camera and stills, and enables additional additional cooling.

      I guess we'll see more come fall!
      • Reply
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    17. nchoh
      July 28, 2020 at 5:12 pm
      Here is an idea, how about cameras that have the necessary cooling system to match it capabilities and doesn't overheat... How about about that concept Canon!

      Sony did it... kind of,... by reducing the capabilities to 12 MP. I guess it is not possible to do it with a weather sealed, ergonomic, 45 MP camera.
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    18. dwarven
      July 28, 2020 at 7:03 pm
      Hmm, I have a feeling it will just be Canon and Sony duking it out for the remaining shares of the ILC market. I love Nikon, but I don’t see them surviving for a lot longer.
      • Reply
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    19. cornieleous
      July 28, 2020 at 7:06 pm
      Here is an idea, how about cameras that have the necessary cooling system to match it capabilities and doesn't overheat... How about about that concept Canon!
      You really don't let up do you. Go buy the Sony and enjoy your life! Or do you just like to be angry?

      These 5 and 6 product lines have ALWAYS been stills centric cameras first, and so the few compromises were pushed onto video which will suit casual use for most of us just fine. In the real world, it still remains to be seen how bad the problem even is.

      Anyone who wants to film long times in high bit rates on full frame for a cheap price is being completely self absorbed and ignoring physics and the fact these companies are business, not a charity or servant to you personally. Again- pony up your cash for the SH1, the A7S3, etc. and you can get exactly what you want, designed just for people like you. What are you filming on today and how can you POSSIBLY get by with what you already have if everything is always wrong?

      Do you expect an audio speaker to have good sound and be portable? Do you expect an off-road truck to have good gas mileage? Learn about engineering and market compromises and why products are designed for specific purposes and stop polluting every single discussion with your repetitive complaints. No one cares.
      • Reply
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