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Konica Minolta Cuts Earnings Forecast
Following the lead of virtually every other camera manufacturer (except Canon), Konica Minolta has lowered its full-year to March 2005 earnings and revenue forecasts, according to a news report on Yahoo. Recent digital camera price falls in what has become a competitive market are partly to blame, along with a failure to introduce new products in its information equipment business. “Although we introduced high-end SLR digital camera products in the third quarter (to December), which raised the average price of digital cameras by 20 pct from a year earlier, the average price for the whole year (to March) is estimated to fall by 4 pct,’ said Kiyofumi Tanida, head of accounting.”
Website: Yahoo News
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