Canon's annual results show a rough 2019, but tease 'advanced' mirrorless camera, lenses for 2020
Canon has published its 2019 fiscal year financial results and presentation. In the materials, Canon highlights how the company has done and sheds light on what we can expect in the coming year, both fiscally and on the development front.
On the financial front, Canon’s Imaging System division recorded net sales of 807.4B yen and a net operating profit of 48.2B yen; a decrease of 16.8 percent and 62 percent, respectively, year-over-year. Canon anticipated a dramatic drop-off in both net sales and operating profit, due to ‘market contraction and the intensely competitive environment,’ but the final results are still slightly worse than expected at 14.6B yen and 2.6B yen lower than Canon’s projections as of last quarter.
Echoing CIPA data, Canon notes the interchangeable-lens camera market shrank 15 percent, with entry-level models being the most impacted due to the increasing capabilities and popularity of smartphones. Canon also recognized its own shortcomings, with a note in the presentation saying:
‘Although we have launched two full-frame mirrorless cameras as well as ten dedicated lenses, our lineup is still insufficient.’
Looking forward, Canon remains realistic, saying it ‘expect[s] camera revenue to decline due to the impact of continuing market contraction,’ but feels confident it will ‘put a stop to the decline in profitability, by further enhancing our mirrorless lineup with an advanced feature full-frame model and lenses, and by accelerating review of our business structure.’
Canon elaborates on the advanced mirrorless topic, saying:
‘In order to recover from our late entry into the mirrorless camera market, we have plans to launch a model that incorporates a newly developed image sensor and image-processing engine that offer even more advanced features. We will work to raise our presence in the mirrorless camera category, leveraging large trade exhibitions around the world. Even amid increasing competition, we will expand sales of higher-end models driven by new products and aim for top market share even in the mirrorless camera market.’
Canon is projecting its net sales and operating profit for the 2020 fiscal year will be 787B yen and 53.7B yen, respectively, which would equate to a 2.5 percent decrease in net sales and an 11.5 percent increase in operating profit, year-over-year. In addition to offering more ‘advance feature full-frame’ mirrorless cameras and RF lenses, Canon’s projected increase in profitability will also likely be helped with fabrication costs now that it appears to have its mirrorless manufacturing facilities up and running.
Canon’s sentiments expressed in the presentation further lend credibility to the ongoing rumors about its forthcoming mirrorless cameras, but certainly fall short of telling the whole story; something we will only find out with time.
|Ford Escort MkII rally car by cjf2|
from Cars in Motion
|Left luggage? by BRTphoto|
from Let’s go back – Time travel –
|Sunset_Silhouette by MFranko_734|
from Steam Railways
In this week's episode, Chris compares the Nikon Z7 II and Sony a7R IV for landscape photography, with a close look at their displays, image quality, lens lineups and more.
Neil Armstrong captured an iconic image during the Apollo 11 moon landing of Buzz Aldrin on the lunar surface. A Reddit user, Michael Ranger, 'unwrapped' the reflection to show us what Aldrin saw through his visor during that historic photograph.
Recently, winners and finalists for the 14th annual iPhone Photography Awards were announced.
The Pelican Rugged Camera Lens Covers come in Black and Coyote (tan) colors and retail for $25 each.
It was the mechanically quirky Soviet-era Pentacon Six that lead photographer Michael Elliot to fall in love with medium format photography. Find out why a love/hate relationship with your gear can actually be a good thing in this week's Film Friday.
A glitch in Hubble's payload computer took the venerable observatory offline for over a month. Fortunately, a dedicated team of current Hubble engineers and alumni could ascertain the issue and switch a power control unit over to a backup unit.
Matt Woods was relaxing on his balcony when he decided to launch his DJI Mavic 2 Zoom drone and capture some footage. To his horror, he discovered a lone swimmer using a speargun to ward off a predatory mako shark.
Capture One 21 (14.3.0) is now available. The free update adds new improvements and features, streamlined workflow tools and improved camera and lens support.
The winning photos for the 2021 World Landscape Photographer competition have been announced, including an incredible overall winning photograph of the Irish coast from photographer Felix Sproll.
Less than a year after the Mavic Air 2 hit the market, DJI released its successor, the Air 2S. Its build is almost identical but there are some notable differences. Which drone in this series is right for you?
Gorilla Glass DX and DX+ Are multi-layer glass composite materials that Corning claims can both increase light transmission and improve the durability of camera modules on smartphones.
Negative Supply has launched its new pocket-sized, all-metal digital light meter on Kickstarter. The LM1 is a sleek light meter designed to deliver both form and function.
The four-minute video shows the intricate steps each camera body and sensor goes through before being packaged up and sent off to retailers.
We've just completed our full review of the Zeiss ZX1. With a 37MP full-frame sensor, minimalist controls and Lightroom Mobile built in, it remains a refreshing – if quirky – take on the smartphone-meets-camera concept.
This week, Chris and Jordan highlight six episodes of DPReview TV that got lost in the news cycle. Discover a few great videos you may have missed, including some of their personal favorites.
The budget lens offers 2x magnification at a 90mm full-frame equivalent focal length for Fujifilm X, Micro Four Thirds, Nikon Z and Sony E mount camera systems.
Tamron has just announced the 18-300mm F3.5-6.3 Di III-A VC VXD - a superzoom lens for APS-C, which will be available for both Sony E mount and (for the first time) Fujifilm X mount.
Premiere Pro 15.4 adds native support for Apple's M1 Macs and brings an Adobe Sensei-powered Speech to Text tool that dramatically reduces the time needed to make videos more accessible and engaging.
With the Tokyo 2020 Olympic and Paralympic Games just around the corner, Canon has announced its plans for the upcoming events, including a photo service center for professional photographers, which Canon says will be the largest photo service center in Tokyo.
The investors note states 'interest in and demand for cameras increased […] particularly for full-frame mirrorless cameras and interchangeable lenses.'
We're at the North Fork Championships in Idaho with drone pilot and gimbal specialist Alex Emberlin and a fleet of DJI products, including the new FPV drone. Our mission? To capture this exhilarating event from every angle.
Nikon Japan says high demand and supply chain issues are to blame for the delays.
YouTube user befinitiv 3D printed a film canister holder and attached a Raspberry Pi camera module and a few other parts to convert a Cosina film camera into a digital camera capable of live streaming video over Wi-Fi, all for around $50.
The unusual Leica/Hughes Leitz 17mm F2 prototype fisheye lens currently for sale at Leica Store Lisse in the Netherlands. The 12kg lens is one of a kind, and the owner is asking for offers starting at just over $47,000.
The lens is available for Canon EOS-M, Canon RF, Fujifilm X, Leica L, Micro Four Thirds, Nikon Z and Sony E mount camera systems.
Danish Siddiqui, a Pulitzer Prize-winning Indian photojournalist for Reuters, was killed on assignment in Afghanistan.
We've been out shooting with a production copy of the Fujifilm XF 18mm F1.4 R LM WR. It delivers impressive optical performance and a great hands-on experience. Check out our sample gallery to judge image quality for yourself.
The Nikon Z fc arrives quite late to the classically-styled party, but it looks pretty competitive when placed side-by-side with Fujifilm's similarly throw-back X-T30. We look more closely at what they offer, how they handle and which is better.
Mac and Windows users have been fighting since the beginning of the computer age. In this episode of DPReview TV, Jordan and his iMac battle Chris and his Windows laptop to see which is best for photo and video editing. And games.