Canon published their latest Q2 financial results and as you can imagine they were not good for the camera division: sales were down 30.8% and profit was down 93.8% Bloomberg’s headline yesterday was “Canon Plunges Most in Eight Years After First Quarterly Loss“:
Canon Inc. slid to a two-decade low after reporting its first quarterly loss, as the Japanese icon struggled with potentially the worst global downturn since the Great Depression.
Canon, a pioneer of modern photography that’s struggled to sustain growth in the smartphone era, has in past years diversified into areas such as diagnostic imaging equipment. After a decade of share price decline, it’s now grappling with the uncertainty of Covid-19 as corporations around the world tighten their belts.
