Canon Financials for Q3 2018. Sales down, outlook good.

glness

EOS M50
Feb 23, 2015
33
2
www.flickr.com
I was one of the Canon photographers who said I wasn't going to buy anything until I saw what Canon's plans were for FF mirrorless. Apparently, I wasn't alone with this thought. While the R series looks promising, I'm still not going to buy any Canon products until I see what pro options (bodies and lenses (including super-telephotos)) will be available for the R mount. Their initial R lens offerings were encouraging, but the first R body was underwhelming for my needs: wildlife, action photography, and landscapes. Canon has been dragging their feet, and my buying plans are no longer going to be based on rumors and hope. I will buy based on what's available compared to the competition and when. If Canon wants to improve quarterly sales results, I will help them if they make great, competitive bodies and lenses available in the R mount sooner rather than later.
 
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tmroper

EOS 90D
Sep 22, 2016
162
56
I for one will be waiting a little longer to buy a FF mirrorless, until the Panasonic comes out. I've tried the EOS R for a weekend, and while it's good, it's not great. Not great includes the ergonomics, mostly the odd placement of the wheels and the AF button--so annoying, when the 5D has things placed so well. And then there's the touch screen functionality, which seems rather rudimentary (better than Sony and Nikon at least, though). You can't even resize the focus box with your fingers, and "dragging" the box is more laggy than my Lumix. It just doesn't seem like Canon gave it 110%, especially when even the cheap Lumix cameras seem to have more in the way of usability.
 

CanonFanBoy

Real men single speed.
CR Pro
Jan 28, 2015
5,119
3,258
Irving, Texas
"our sales declined by 22.4% in the third quarter." Precisely as I predicted several months ago due to Sony's lead in mirrorless cameras. I believe, however, that will change significantly over the next two quarters as Canon releases or announces more cameras and lenses in the R series. I've already got an EOS R (to replace my 6D), and plan to get the pro-level R when it becomes available. And if the R series lenses continue to be as impressive as the first few, I can see Canon's market share significantly improving over the next two years. I almost bailed to Sony, but now I'm very glad I waited.
Sony does not lead in mirrorless. IN the U.S. FF market... yes. Because there was no competition. Mirrorless sales overall and in all markets? Not even close. https://photorumors.com/2018/08/01/...ket-share-latest-nikkei-bcn-and-cipa-reports/
 

Isaacheus

EOS RP
Jun 22, 2017
214
25
New Zealand
Its a stills camera with video, not a video camera. Thats been Canon's philosophy, primarily due to demand from photographers.

If a person is looking for cinema quality video, they are not going to find it in a $2200 stills camera from Canon.

Sony is the Industry leader in Video, and does put more into their cameras. Video has always been a strong point for them, Canon is moving up in the video world, but thru a separate line of cameras.

I haven't bothered to try the Video in my R, I bought it as a stills camera that does video in the rare event that I want some.

While I know that some want Canon to change their philosophy, they are not likely to change what works for them. They continue to gain market share, every year, so they feel they are doing it right.
While I agree, I do wonder if it being seen as just a stills camera will limit the appeal in the system, at least until more models are released. I know I look at it and don't see many benefits VS say the z6.

The R lens system looks really promising, don't get me wrong, it's just the Canon way of doing things starts to look limiting when you look at the other options too.
 

Mt Spokane Photography

I post too Much on Here!!
CR Pro
Mar 25, 2011
16,280
1,315
More importantly though, what are the EF lens sales like for the quarter? That might be another way of getting an idea on the markets.
They changed their method of displaying sales figures, so I could not see a way to track lens sales, apparently they are lumped together.
 

justaCanonuser

Grab your camera, go out and shoot!
Feb 12, 2014
672
482
Frankfurt, Germany
Its a stills camera with video, not a video camera. Thats been Canon's philosophy, primarily due to demand from photographers.

If a person is looking for cinema quality video, they are not going to find it in a $2200 stills camera from Canon.

Sony is the Industry leader in Video, and does put more into their cameras. Video has always been a strong point for them, Canon is moving up in the video world, but thru a separate line of cameras.
Well, some people (like me) may remember that your statement wouldn't have been true about 10 yrs ago. Canon really revolutionized the HD video market back then with the 5D Mk II. But, unfortunately for all videographers amongst the majority of Canon users, Canon came up with their new Cinema EOS series in 2011. Since then, they are anxious about cannbalizing this high-priced pro series, so they started to cripple the video technology of their FF DSLRs, and now they do the same with their R series. The 1DX series proves that a lack of video technology isn't the bottleneck. I do not expect Canon to change that philosophy with a "pro R" model as long as they hope they can beat Sony in the ML market without giving their customers too much food for their money. They will only change their minds if this strategy turns out to be not successful.

As a stills photographer (mostly), I can happily stick with the Canon systems, in particular because they really make high quality lenses. If I'd focus mostly on video and wanted a ML, I'd change to Sony and adapt Canon lenses, despite the new R series.
 

MEAllred

I'm New Here
Aug 10, 2018
13
0
Hmmm, Sony just posted Quarterly Results - For Imaging they reported a GAIN of 7% while canon posted a 22% decline! Yikes...
 

Woody

EOS R
Jul 20, 2010
1,153
58
CIPA numbers for the first 3Q of 2018 are out. Canon's market shares for ILC over the first 3Q of 2018 is 41.6%. Although I am sure they are still no. 1, this represents a decline of what they used to achieve in 2016 and 2017.
 

Mt Spokane Photography

I post too Much on Here!!
CR Pro
Mar 25, 2011
16,280
1,315
CIPA numbers for the first 3Q of 2018 are out. Canon's market shares for ILC over the first 3Q of 2018 is 41.6%. Although I am sure they are still no. 1, this represents a decline of what they used to achieve in 2016 and 2017.

Are you sure? As far as I know, CIPA only deals with total camera shipments and manufacturing numbers and does not reveal manufacturer market shares.

There are others like Nikkei who estimate market shares based on figures from selected camera sellers.

 

Woody

EOS R
Jul 20, 2010
1,153
58
There are others like Nikkei who estimate market shares based on figures from selected camera sellers.
While what you said is true (CIPA figures are based on shipment whereas Canon provided sales numbers), there is a correlation between the 2. The link you gave is correct only for the first 2 quarters of 2018. There is a steep decline in Canon's market shares in Q3. I believe this may be attributed to poor sales of DSLRs and Canon has some serious catching-up to do for their MILCs. Expect faster MILC roll outs and huge discounts from Canon in Q4 2018.