Canon S Profit Projections Are Twice As Bad As Previously Expected Reports Nikkei
In April, Canon’s Q1 2019 financial report presented a 23% decline in camera sales, with an 81% drop in operating profit vs Q1 2018 and an anticipated 25.8% drop in operating profit across the year as a whole. Now, three months later, Nikkei Asian Review is reporting that the projected figure has now increased to a 40% reduction for the year. The massive drop in operating profit, they say, is down to “a slowing European economy and slumping chip market”....