Canon Q3/2019 financial results for Imaging business: sales down 13.9%, profit down 56.8%

Canon released their Q3/2019 financial results. For the Imaging Business sales are down 13.9% and profit is down 56.8% compared to the same quarter last year (click on tables for larger view):

Within the Imaging System Business Unit, unit sales of interchangeable-lens digital cameras decreased compared with the same period of previous year due to continuing market contraction, centered on entry-class models. However, unit sales of mirrorless cameras increased, owing to solid demand for new models equipped with full-frame sensors launched in the second half of the previous year as well as solid demand for affordably priced models. For inkjet printers, although unit sales in Japan increased compared with the same period of the previous year, unit sales decreased overall compared with the same period of the previous year mainly due to the slowdown in emerging markets affected by the sluggish economy. As a result, sales for the business unit decreased by 13.9% to ¥189.2 billion year on year, while income before income taxes decreased by 57.8% year on year to ¥10.4 billion. Sales for the combined first nine months of the year totaled ¥570.2 billion, a year-on- year decrease of 16.5%, while income before income taxes totaled ¥28.8 billion, a year-on-year decrease of 67.3%.

Source: Canon

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