Q1/2013 and all is not rosy at Canon Inc.
Amid an environment of continued economic weakness with slowdown of growth in China and Europe, Canon’s results show a sales and profit decline. The company sees that markets are cooling and price competition is getting ever more severe.
However the company still expects a stronger global economic recovery in the second half of 2013, and plans to activate the market with vigorous sales and marketing activities. They also hope that investment in new products will improve product competitiveness.
Particularly hard hit this quarter was the compact camera business (PowerShot/IXUS) with a negative 37% growth rate over last year and DSLR (EOS) with a negative 15% growth. Interestingly Inkjet printers showed a positive turn, up 14% in volume.
Given that the company still is predicting to beat it’s last full year projections for 2013 they must have some great new products that will launch soon and sell well.
Full details can be found on Canon Inc. Investor Relations site. [link]