Yes, it is complex. But, back to the main point -- I would like to hear an example of when Canon held off on introducing a new version in order to reduce inventory on an older model.Retailer inventory is a more complex subject than you seem to be aware of. There are often agreements in place that basically allow authorized dealers to swap inventory of an older model for inventory of a newly introduced replacement model at a ratio (say 30 older bodies for 20 of the newer model). There are also sales per time period incentives, much like those used in the new auto retail environment, that affect the final price a dealer pays for a block of inventory. Canon also offers "instant rebates", which are actually structured as discounts/credits on future inventory purchases, to encourage dealers to sell remaining inventory rather than returning it to the regional Canon distribution network (e.g. Canon USA, Canon Hong Kong, etc.). In the end a dealer's inventory of Canon products is somewhere between consignment and outright purchase.