Photography Deals (Page 5)

Canon has released the first quarter 2021 financial results to the Investor Relations page.

Presentation Material
Results
Supplementary Data

Some Relevant Highlights

"As for Imaging, still benefiting from the effects of new camera bodies, unit sales of both cameras and lenses exceeded our plan. Profitability improved significantly from last year due to a rise in average selling price and an increase in sales efficiency."

"Changes in exchange rates, particularly the yen’s depreciation against the euro, had a positive impact on net sales and operating profit of 7.9 billion yen and 6.0 billion yen, respectively."

"As for cost reduction, improvement was made mainly in fixed costs, reflecting, among others, last year’s decline in factory utilization rates due to the effects of COVID-19."

"As for expenses, while we aggressively invested in the development of new businesses, the effects of structural reforms and more efficient sales activities resulted in a 16.0 billion yen improvement. As a result, SG&A as a percentage of net sales declined significantly from 41.6% in the first quarter of last year to 37.2% this year."

"Our view that the global economy will accelerate towards normalization from the second half of the year has not changed since the beginning of the year."

"As for the semiconductor component shortages and logistical bottlenecks, based on our best estimate at this time, we budgeted for higher costs and delays in delivery. However, the situation is changing day by day. As such, we will continue to monitor the trends going forward."

"We raised our projection to reflect not only the building of a stable business foundation through the promotion of business portfolio transformation, but also acceleration in the global economy recovery."

"Compared to our previous projection, we raised our outlook for net sales by 100.0 billion yen, operating profit by 39.5 billion yen and net income by 25.0 billion yen, and now expect net sales to increase 10.8% to 3.5 trillion yen, operating profit to increase 79.1% to 198.0 billion yen, and net income to increase 68% to 140.0 billion yen."

"For Imaging, because the size of the camera market is already approaching the number of users that are particular about visual expression, we expect the market to be limited to moderate contraction going forward. As current sales of mainly new products are exceeding our plan, we raised our full-year projection for both sales and profit."

"As for cameras, even amid continued restrictions on people’s movement, demand for cameras remains solid, supported by the need for high-quality visual expression. Based on this, we still expect the 2021 camera market to be up slightly or 5.8 million units."

"In the first quarter, revenue was significantly higher than last year, as sales remained strong, driven by the EOS R5 and EOS R6 which were launched in the second half of last year. Additionally, the synergy effect of having competitive camera bodies and expanding our lineup of RF lens, which command high margins, led to an increase in average selling prices. This, and the establishment of efficient online sales activities nurtured through COVID-19 is leading to an improvement in profitability."

"For the full year, reflecting the situation surrounding sales in the first quarter, we not only raised our projection for camera unit sales by 100 thousand to 2.9 million, but also raised our projection for revenue."

"To further strengthen mirrorless camera lineup, in April we announced the development of a new model, the EOS R3, which is equipped with a backside illumination stacked CMOS sensor that achieves high-speed signal processing, which allows for a number of functional improvements such as continuous shooting performance. At the same time, we announced 3 new RF lenses, bringing the total to 22 and we will continue to enhance this lineup going forward. By raising the appeal of the R series, we aim to further raising our market share in the full-frame category and increase sales."

"Additionally, for new types of cameras, such as the PowerShot Zoom that was launch at the end of last year and has attracted quite a bit of attention for its ease of capturing long-range images with one hand, we are steady creating new markets."

Until today, Canon RF Extenders were compatible with only a few lenses, and all of those lenses had narrow apertures without an extender in place. The RF 400mm F2.8 and RF 600mm F4 lenses announced today are considerably more appealing to combine with an extender than the previously available options. I do not know how strong the current inventory levels are for Canon RF extenders, but certainly the demand for these lenses just increased, at least somewhat.

If you think you might want an RF 1.4x Extender or RF 2x Extender, buying one immediately is a good idea.

The Canon RF 1.4x Extender is in stock at B&H | Adorama | Amazon USA

The Canon RF 2x Extender is in stock at B&H | Adorama | Amazon USA

Get in the front of the line!

The Canon RF 100mm F2.8 L Macro IS USM Lens is available for order at B&H | Adorama | Amazon USA | WEX

The Canon Tripod Mount Ring and Adapter E(B) is available for order at B&H | Adorama

The Canon RF 400mm F2.8 L IS USM Lens is available for order at B&H | Adorama | Amazon USA | WEX

The Canon RF 600mm F4 L IS USM Lens is available for order at B&H | Adorama | Amazon USA | WEX

From Canon, Inc.:

Canon celebrates 18th consecutive year of No. 1 share of global interchangeable-lens digital camera market

TOKYO, March 29, 2021—Canon Inc. announced today that the company's interchangeable-lens digital cameras (digital SLR and mirrorless cameras) have maintained the No. 1 share of the global market for 18 consecutive years¹ from 2003 to 2020.

Canon develops the key imaging system components featured in its EOS series of digital interchangeable-lens cameras—CMOS image sensors, image processors and interchangeable lenses—under the core concept of, "Speed, Comfort and High Image Quality." Putting together a wide-ranging product lineup—from high-performance flagship models that are highly trusted by professionals to entry-level models that allow users to enjoy high-image-quality shooting with easy operation, as well as a rich selection of 118² combined RF and EF series lenses that make possible a wealth of creative expression—Canon continues to support the diverse needs of customers.

During the dawn of digital SLR cameras, Canon introduced its breakthrough EOS Kiss Digital (EOS Digital Rebel or EOS 300D in other regions) in September 2003. This groundbreaking camera, which was competitively priced and featured a compact, lightweight design, captured the top share of the global market and set the stage for growth in the digital SLR market. Since that time, Canon has continued to launch a range of groundbreaking products, including the professional-model EOS-1D series and the EOS 5D series, which paved the way for digital SLR video recording. In October 2018, Canon announced the EOS R system—including the EOS R full-frame mirrorless camera and RF lenses that fully leverage their optical technologies—that further expanded the range of imaging creativity and opened up new possibilities for visual expression. Over a long history beginning in the age of film, and with the support of loyal users, in 2019, the EOS series achieved the remarkable milestone of 100 million³ total EOS cameras sold.

In July 2020⁴, Canon launched the EOS R5 full-frame mirrorless camera, equipped with cutting-edge technology in pursuit of next-generation visual expression. In striving to further expand its lineup, Canon managed to secure the No. 1 share of the global market for the 18th consecutive year.

Canon will continue to refine its diverse imaging technologies based on its core optical technology while further strengthening and expanding the EOS series of cameras and RF/EF series of lenses, opening up new avenues of image capture to meet the needs of increasingly diverse users and to promote the spread of photo and video culture.

1 Based on a Canon survey.

2 Includes 30 EF Cinema lenses (EF mount/PL mount) for visual productions and 4 lens extenders. As of march 29, 2021.

3 Including cinema cameras for visual productions.

4 Also in 2020, Canon released the following digital interchangeable-lens cameras: the EOS-1D X Mark III (February), the EOS Kiss X10i/EOS REBEL T8i/EOS 850D (June), the EOS R5 (July), the EOS R6 (August) and the EOS Kiss M2/EOS M50 Mark II (November).