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Canon Profit Down - Lowered its annual sales forecast


A Report published at Bloomberg says that Canon cutting their annual sales forecast by 2.1%. According to experts the sales is down due the introduction of high quality smartphones that totally dumped the compact camera sales.

If we look at the stats, Canon sold a total of 2.3 million powershot compact cameras in the second quarter, a 36% decrease compared to the sales of previous year. The sales of also DSLR dcreased from 2.1 million to 1.7 million due to the increase in mirrorless sales.

Earlier Canon posted a better than expected quarterly profit was due to increase in the sales of office equipment (Fax machine, printers etc.,), and it’s clearly not a good sign for Camera giants like Canon.

The most important thing – According top CIPA the worldwide sales of digital camera declined about 35 percent compared to the sales of previous year.

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source – Bloomberg

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