The compilers of the report note that the slowdown of the Chinese economy and not the most favorable conditions on the European market had an impact on the indicators. At the same time, in the US, demand for Canon products remained high, while gradual recovery continued in Japan.
Revenue units engaged in cameras, lenses and other photographic equipment, decreased by 17.0%. At the same time, the company notes the success of mirrorless EOS R cameras with interchangeable lenses.
Nevertheless, Canon CEO Fujio Mitarai’s forecast predicts that the camera market will be halved by 2021. According to the head of the company, the decline will be caused by more and more high-quality cameras in smartphones. For example, the Huawei P30 Pro smartphone already demonstrates capabilities that reach the level of professional cameras.