Friday, November 27, 2015
Canon Profits Down 21% as Mirrorless Cameras Cut Into DSLR Sales
Canon announced its quarterly earnings today, and revealed that its operating profit for the quarter (~$665 million) has fallen 21% compared to last year. At the same time, Canon increased its full-year earnings estimate due to a drop in the value of the Japanese yen.
Reuters reports that a shifting digital camera landscape are to blame for Canon’s weakening business. Smartphones are causing consumer demand for compact cameras to shrivel up, while mirrorless cameras are eating away at Canon’s market share for DSLRs, which have higher profit margins.
It seems that photographers moving from DSLRs to mirrorless cameras aren’t choosing Canon’s mirrorless offerings.
Image credits: Header illustration based on photo by Stéfan
from PetaPixel
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