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

GaryPageau

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.

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Gary Pageau is principal of InfoCircle LLC, continuing his marketing communications career. InfoCircle LLC is a marketing and communications consulting firm, specializing in business-to-business markets. For nearly 25 years, he was with PMA International, serving most recently as Publisher, Content Development and Strategic Initiatives. His primary responsibilities included overseeing the Association’s editorial department, marketing research unit, education and corporate relations department.