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Canon’s Profits Keep Declining

Zoltan Arva-Toth | Global | October 27, 2009 | 2 Comments
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Canon has posted its seventh straight quarterly profit drop, Bloomberg reports. The extended profit decline is blamed on a strong yen, which has hit Canon particularly badly, given that about 80% of the company’s sales are generated overseas. Having said that, Canon is still optimistic about its fourth-quarter prospects, saying the profit decline is expected to turn into growth eventually. Bloomberg also remarks that the company’s profit losses have mainly stemmed from the business machines division, with the camera operations actually enjoying a growth of 5.5%. The problem is that Canon’s prosperous camera business is much smaller than its ailing business machines division, and the growth achieved by the former cannot offset the dramatic decline the latter is facing.

Via Bloomberg



 

Your Comments

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#1 Pepsi The Mad Cat

Canon is still playing catch-up with Nikon with fast ISO speeds and remain behind both Nikon and Panasonic, as none of their DSLR cameras have a varie-angle LCD.

6:19 pm - Wednesday, October 28, 2009

#2 No_5DMKII_Sony850_here_I_come

Anybody tried to send customer feedback to Canon? They sell still too much...

5:51 pm - Thursday, October 29, 2009

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