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Canon Releases Healthy 2017 Year End Results
By Ian Bongso-Seldrup, February 1, 2018 @ 04:00 AM (EST)
Source: Canon Rumors

Canon has published its 2017 year end results, and it seems to have been a good year for the company. However, the numbers—a 20% rise in sales and operating income up by around $3 billion, or 45%—mainly reflect the health of its finances in areas like healthcare, security, and office imaging—where Canon is a major player.

The good news for Canon shooters (and investors)—despite the declining market—is that its camera imaging division is also in great shape, with camera sales up more than 5%. The company leads the industry in terms of the number of cameras launched—six models in 2017 including the EOS 6D Mark II—and its projected 1.2% growth in camera sales in 2018 suggests that it will continue to do so. The company does predict a 16% decline in compact camera sales this year, but says it plans to continue developing its G-series compacts.

While the market for interchangeable-lens cameras in 2017 shrank by 1%, Canon posted a sales decline of 3%, but says that “expected” drop was because the corporation’s sales in 2016 were not affected by the earthquake that year which caused production problems for companies such as Nikon and Sony.

While Canon expects the market to shrink by 4% to 11 million units in 2018, it predicts unit sales to hold steady at 5.5 million units—half of the market share—helped by double-digit growth in mirrorless camera sales. It seems likely that this year Canon will be celebrating its 15th consecutive year as having the No. 1 share of the global interchangeable-lens camera market.

Read more here.



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