Canon has published their Q3 2018 financial report, and although things seem to have taken a little dip with a decline in overall interchangeable lens camera sales, their future still looks bright.
So, essentially, they’ve been focusing on entry level cameras, but fewer people are now buying entry level cameras, so sales are down. Well, there has to be a point of saturation where everybody has entry-level cameras, or they’re buying older, higher end used models as their entry into photography (it’s not like there’s a shortage of those these days). Not surprisingly, compact cameras are continuing to see pressure from smartphones.
By the way, Canon, I’m sure you didn’t intend for the above line to read the way it potentially may. But just a reminder… Women are people, too.
When it comes to the final quarter of the year, Canon expects to see a steady economic growth in the USA, and they’ve no idea what’s going to happen in the UK & Europe as a result of Brexit. Don’t worry, Canon, nobody in the UK has any clue what’s going to happen here after Brexit, either. We’re as lost as you are. Overall, though, they do expect to see an increase in Q4. This isn’t really surprising with Black Friday and other sales coming in the lead up to Christmas. Everybody’s hoping for that new camera or lens. Although that increase is not as high as originally expected. It will be interesting to see how Canon’s projections match up against the real world in a few months time. The EOS R has received a lot of criticism over the single card slot, ridiculous 4K crop factor and other issues. But it still remains rather popular, with current EOS R users overall very pleased with their purchase. That being said, they’re not the only manufacturer to announce new cameras recently. Nikon’s Z6 and Z7 will likely draw a few people in and away from Canon. And we can’t forget the Panasonic and Sigma cameras expected in just a few short months. Quite a few people have told me they’re holding off on any camera buying decisions until they see exactly what Panasonic and Sigma have to offer. Full frame Foveon is a very appealing concept, especially if they can speed it up from its current state. If you want to read more about Canon, though, you can check out their full Q2 2018 financial documents here. [via Canon Watch]
