Canon Cuts Profit Forecast as Post-Brexit Yen Strength Bites

[rrcphoto]

Am I alone in not seeing why this profit forecast is being linked to Brexit?
After all, there's no data on the %age of Europe sales are in UK.
So while sales in UK might drop due to £, what is the reason for suspecting a drop in sales in the rest of Europe?
I'm sure there are reasons, but in my early-morning bleary-eyed state, I'm probably being a bit slow here

because the Yen is rising against the uk pound and euro, stronger Yen, weaker export sales.

the Yen is considered a safe haven currency, so any time there's unrest or uncertainty it usually increases in value.

 

[rrcphoto]

interesting quote from the canon summary report.

As for interchangeable lens cameras, we exceeded our sales plan for new DSLRs and our enhanced lineup of mirrorless cameras, particularly in Europe and China. As such, we raised our full-year unit sales projection to 5.5 million units, which is in line with last year.

the key point is that the ILC market overall is still declining about 5-10% YoY - and canon has stabilized it's sales unit volume, which means that canon continues to grow it's marketshare.

Good news for Canon to raise its DSLR sales expectations for the first time in years. Wonder how much this was due to 5DS/R-sales. Canon has already before said they were selling better than expected. Given the price drop for the 5DS I guess (??) its the 5DSR model that has been doing well. However, as always we have very little specific info to go by.

(Will go through the full set of investor release later this week.)

I think the M10 and M3 did alot of it in Asia. I haven't seen any 5Ds anywhere on the top of sales charts.

there was a pretty dramatic spike in shipments of mirrorless that started around the time that the M10 was released, and there was really no other MILC released around the same timeframe (oct-nov).

and very few camera manufacturers have the manufacturing and logistics capability of a canon or nikon.

 

[grainier]

Can you say "price hike" with me? C'mon, all together now!

 

[GuyF]

Now I will wait until sometime around Christmas...

Well, at least you have that to look forward to!

 

[serenaur]

Now I will wait until sometime around Christmas...

Well, at least you have that to look forward to!

It'll be a better gift than socks and a new pair of slippers! ;D