Canon cuts full-year outlook on lean demand for cameras, chips

Reuters reports Canon Inc lowered its full-year earnings outlook for the second time this year, citing lower sales of DSLR cameras and lean demand for semiconductor-producing equipment. Canon cut its annual profit forecast to 335.5 billion yen ($2.99 billion) from 378.5 billion yen.

Sales of SLR cameras shrank faster than expected as some customers held off purchases ahead of Canon’s launch of advanced mirrorless cameras, Chief Financial Officer Toshizo Tanaka said at an earnings briefing.

Here is a link to the earnings report, direct from Canon.