Canon Jaw-Dropping Declines in Sales and Operating Profit

Canon’s Decline in Sales and Operating Profit

by Shaan

Canon reports an 81.6% decline in operating profit and 23% drop in camera sales. Not a very pleasant news for camera lovers. Hey, what is happening here? Is the smartphone industry eating up the market pie? This can be of the major reasons for this jaw-dropping dips. How I see this is, technology is the main reason why this happened, and more is yet to happen.

Earlier, only few had these so-called image capturing devices now everyone has them. Look in your pocket you have it too so-called smartphone. Not only camera that you have you have a whole editing and visual company in your pocket. Moments are captured, edited and shared among friends and family in under a minute, that’s the power of technology.

Earlier Sony merged its business altogether, that means a company which are in both segments are going to beneficial. Then Samsung and Sony are going to clear winners until someone goes for Canon and Nikon. The rise of smartphones would be downfall of standard camera line.

For people like me and you, who are not in the hobby or in the business of photography, cameras are just another device used for clicking good pictures. If my smartphone can do that, then buying a DSLR or a mirrorless camera is no good. We don’t even change the settings on the camera from auto to manual.

Lastly, the camera industry must innovate a lot, if they want to be with the masses or it is just another rise and fall story. Here you can read more on the Canon’s drop.

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