Canon is revising down their profit forecast by 20% due to weak camera sales, new mirrorless lenses coming after summer


According to Nikkei, Canon is going to revise down their profits forecast by 20% for the 2019 fiscal year due to weak camera sales. Also, Canon is expected to launch new lenses for mirrorless cameras after summer:

"Canon will lower its forecast for the fiscal year ending December 2019. Consolidated operating profit (US GAAP), which indicates the mainstay of the business, is likely to decrease by 20% over the previous year to ¥ 270.0 billion. About 50 billion yen lower than the previous forecast. The shrinking of the digital camera market and the deterioration of the semiconductor market due to the functional improvement of smartphones (smartphones) will hit hard. However, the medical equipment divisions acquired from Toshiba are performing well, and profits are expected to turn upward in the second half."

Via Nikkei (thanks Nakayamahanzaemon)

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