Canon has released its financial results for the fiscal year 2021

Canon Rumors Guy

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Canon has released its fiscal 2021 financial results, and even with all of the challenges, Canon has done pretty well and exceeded expectations in a few of its industries.
Even with the pandemic, Canon’s imaging business continues to turn a profit. Camera and lens production has obviously been affected for the last couple of years. Canon saw a reduction of 20,000 units year over year but still managed to move 2.74 million cameras, and wouldn’t have seen a decline had it not been for the pandemic.
Canon EOS R5 and Canon EOS R6 continue to be a driving force for Canon, and the Canon EOS R5 C will likely help to get new customers and to continue sales growth.
Full Canon FY 2021 Material

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EOS 4 Life

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2.74M is short of the forecasted 3M
They basically projected a modest increase but got a slight decline.
 

twoheadedboy

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Profitability improved significantly, and operational profitability in the imaging division improved dramatically. interesting to see that demand for the R5 and R6 seems to have not slowed down, though the shortfall in availability that was called out was...entry-level cameras.
 
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CanonGrunt

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Nice to see they are acutely aware of the “entry level shortfall.” I imagine that will be fixed this year. Plus the R1 should be announced on the high end.
 
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Jethro

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2.74M is short of the forecasted 3M
They basically projected a modest increase but got a slight decline.
Interesting that they also say: "As for the size of the market in 2021, although it shrank by 200 thousand units, due to the insufficient supply of products by each company, it was still 5.4 million units." So confirming they are about 50% of the total.
 
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David - Sydney

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It is good for us (as Canon users) and the market that Canon has good revenue and profitability... "highly profitable EOS R systems". Prices are higher for RF mount but we always have the option of EF and EF-s and access to a healthy and good quality second have market.... albeit I am not getting much traction to sell my EF24-105mm/4 mark i
 

entoman

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This is going to be a huge year for Canon.

By the end of 2022 they'll have a very complete line up of RF bodies: R1, R3, R5, R5C, R6, plus "R7" APS-C, a replacement for R, and a cheap replacement for the RP.

They seem to be calling 2022 "the year of the camera body", so I rather hope that 2023 will be the year of the RF lens, as there are still many gaps in the range, compared to the EF range.
 

unfocused

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Nice to see they are acutely aware of the “entry level shortfall.”
I was surprised by this.

Emphasis added: "Our unit sales in 2021 totaled 2.74 million units, 20 thousand units fewer than in 2020, also due to the insufficient supply of products, particularly entry-class cameras."

But, I took a look at Canon Price Watch and it does indeed seem that many of the Rebel models are out of stock at major retailers. I guess I hadn't been paying attention to the low end of the market.
 
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neuroanatomist

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I was surprised by this.

Emphasis added: "Our unit sales in 2021 totaled 2.74 million units, 20 thousand units fewer than in 2020, also due to the insufficient supply of products, particularly entry-class cameras."

But, I took a look at Canon Price Watch and it does indeed seem that many of the Rebel models are out of stock at major retailers. I guess I hadn't been paying attention to the low end of the market.
If a shared component is in short supply, it makes sense for them to prioritize putting it in models with a higher profit margin.
 
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John Wilde

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Their 2021 Imaging division Operating Profit (yen) was +1,273.8% compared to 2020. That's quite a comeback, for a really horrible year for everyone.
 
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unfocused

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The thing that really struck me was that the camera sections were all about the EOS R system without a single mention of DSLRs or EF lenses. Combine that with other recent announcements (1Dx III is the last of the line, closing their plant in China that produced 12.2 million lenses -- most likely EF-S and budget EF lenses, the shortage of Rebels at major retailers, their official statements that they are focusing RF over EF ) -- and it seems that the handwriting is on the wall for DSLRs overall.

Before people start quoting old figures about DSLR shipments, I'm not saying they are pulling the plug today, but that they are sending strong signals that they don't see a future for the DSLR market.
 
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Jethro

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The thing that really struck me was that the camera sections were all about the EOS R system without a single mention of DSLRs or EF lenses. Combine that with other recent announcements (1Dx III is the last of the line, closing their plant in China that produced 12.2 million lenses -- most likely EF-S and budget EF lenses, the shortage of Rebels at major retailers, their official statements that they are focusing RF over EF ) -- and it seems that the handwriting is on the wall for DSLRs overall.

Before people start quoting old figures about DSLR shipments, I'm not saying they are pulling the plug today, but that they are sending strong signals that they don't see a future for the DSLR market.
I think the R system is absolutely where the development $s are, and where the future will be. Having said that they seem to keep selling the Rebel-level (and xxxDs) DSLRs at decent volumes (we don't really knows how many), so the Q will always be: what will take over from those bodies / systems in the future? Canon won't drop them without obvious replacements.

The low price EOS RP replacement that seems certain to come later this year may point the direction, but there are multiple models of cheaper DSLRs out there (not to mention M series models), so they can't cover all those bases with one release.

I therefore suspect we'll see the existing DSLRs stay in production for multiple years to come - and maybe even re-released in a minimally updated body (so they can look 'fresh'). The same with M series bodies. But the future does seem to be RF mount.
 
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Aug 7, 2018
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They write an article about a photo company, but in the photo of Canon HQ the photographer pretty much did everything wrong you can do wrong in a photo of architeture :)
 

melgross

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If a shared component is in short supply, it makes sense for them to prioritize putting it in models with a higher profit margin.
Exactly. Apple did that with parts for iPads vs iPhones. With them, it was somewhat less pricing points, unless it was primarily for the lower end iPads rather than for the iPad Pro models. They moved parts to iPhone production and so had a record iPhone quarter, but fell short on iPad sales because of the supply issue.

it’s makes sense.
 

Woody

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Interesting that they also say: "As for the size of the market in 2021, although it shrank by 200 thousand units, due to the insufficient supply of products by each company, it was still 5.4 million units." So confirming they are about 50% of the total.
In 2020, they dominated with 47.9% market shares worldwide:

Looks like Canon is growing stronger... albeit in a shrinking market.