Canon released their quarterly financial results

Canon released its quarterly financial results (Q1) and raised its full-year sales forecast:

Amid a recovery in travel and other leisure activities, demand for cameras was firm, and new mirrorless cameras launched by each company stimulated buying interest.

In the first quarter, our sales of new mirrorless cameras, such as the EOS R7, EOS R10, and EOS R6 Mark II, which were launched last year, increased, and our product mix improved, resulting in higher revenue. Strengthening the appeal of our products has led to the curbing of sales promotion expenses, and with selection and concentration in development and raising the efficiency of our sales organization, has been the driving force behind significant improvement in profitability.

This year, we will continue to enhance our lineup of EOS R series mirrorless cameras, both bodies and lenses. In March, we launched the EOS R50, the smallest and lightest in our R-series, which makes it easy to carry. This camera also offers convenient video recording functions for Vlogs and has been well received by those who are starting to use cameras or want to enjoy them casually.

This year, we expect the market to grow to 5.85 million units. In addition to professional and advanced amateurs, by launching models that expand our user base, we plan to sell 2.9 million units this year, which is 1% higher than last year, our original projection. As for net sales, we raised our projection by 16 billion yen to reflect an improvement in product mix, and will strive to achieve double-digit growth. (source: Canon)

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