In news that will hearten Canon shooters, the firm indicated in its quarterly results that parts availability is improving. In news that probably won’t hearten Canon shooters, the company said it expected double-digit profit growth in future quarters “as negative impact of cost increase is absorbed through various measures.” Of course, one such measure could be charging $17,000 for a lens.
Increased costs were the largest factor in shrinking Canon’s Q1 profits. Despite increasing revenue by about 6 percent for the Imaging division, profits in that sector shrunk by 26 percent. Similar dynamics appeared in most other divisions.
From Canon
Demand, mainly coming from professionals and advanced amateurs, continues to be strong as full-frame mirrorless cameras released by each company stimulate the market. As a result, we expect the 2022 market to grow by 5% compared to last year to 5.65 million units, which also...
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