Canon Releases Full Year 2020 Financial Results

Canon has releases full year 2020 financial results that can be downloaded from their Investor Relations page.

Presentation Material
Results
Supplementary Data

Some Relevant Highlights

"As for Imaging System, mainly thanks to new products and a rise in average selling price, we posted an increase in profit not only in the third and fourth quarter, but also for the full year, achieving a double digit profit ratio."

"We expect demand for cameras and inkjet to be in line with last year."

"As for Imaging System, we will strive to achieve our second consecutive year of double digit profitability through an increase in camera and inkjet sales, an improvement in product mix, and a continuing review of our business structure."

"We also raised profitability significantly in the second half of the year, thanks to sales of the EOS R5 and EOS R6 that were launched in the third quarter."

"Going forward, we expect the market to continue shrinking over the medium term, mainly due to contraction of the entry class segment. However, in 2021, we expect the market to contract only 3% to 5.8 million units as the market was down significantly in 2020 due to the impact of COVID 19."

"Under these conditions, we will work to further strengthen our lineup of EOS R cameras and RF lenses to facilitate our aim of expanding our market share among professional and advanced amateur users where demand is solid."

"For RF lenses, we have steadily expanded our lineup to 18 models. And through synergy with our enhanced camera lineup, we have significantly increased RF lens sales from the second half of last year. This year, we will enhance our RF lens lineup even further to respond to the need to capture a multitude of different images. And with the sales of cameras, we will improve our product mix to facilitate our aim of exceeding last year’s sales."

"Inventory — Imaging System declined significantly due to stronger than expected sales of both cameras and inkjet printers."

Posted: 1/28/2021 7:58:27 AM CT   Posted By: Bryan
Posted to: Canon News    Category: Photography Deals
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