While Sanyo has reported that it will lower its digital camera production target following 'weaker than expected demand', Canon has announced a 40% profit on last year due to 'robust sales of digital cameras' and other equipment. Canon, which has been number one digital camera manufacturer for the fourth month running (in the US), has also lowered its forecast by 500,000 units to 14.7 million units, which is still 70% more than last year (8.6 million units). Sanyo is one of the world's largest digital camera manufacturers, producing OEM products for Olympus and Nikon. It plans to cut production by 5 million units to 15 million. A Sanyo spokesperson says this is due to the popularity of digital cameras slowing in Japan and competitive pricing among manufacturers, which is affecting profit margins.