Canon released their Q3/2020 financial results
Today Canon released their Q3/2020 financial results. Here are the details on the Imaging System business unit:
For both cameras and inkjet printers, as our performance in the third quarter was better than planned, we raised our outlook for the Imaging System business unit and will work for full-year growth in profit.
As for camera demand, amid ongoing market contraction, we expect a significant drop in demand due to COVID-19 this year. However, in the third quarter, the camera market was stronger than expected thanks to a gradual increase in image capturing opportunities as people became more active. Taking this into account, we raised our full-year projection for the interchangeable-lens camera market by 0.5 million units to 5.9 million units.
Although we expect our full-year sales to decline in line with the market to 2.7 million units, the EOS R5 and EOS R6, new cameras equipped with full-frame sensors that we launched in the third quarter, have recorded strong sales since their introduction thanks to the high marks they have received for their revolutionary video recording function, AF performance, and image stabilizing function. Furthermore, for our enhanced lineup of lenses, we are achieving sales growth and improving product mix through synergy with camera bodies.
