Canon Releases 2Q 2021 Financial Results: Exceeds Expectations
Some Relevant Highlights
During the quarter, we enjoyed continued strong sales of products such as cameras and inkjet printers as we strived to minimize the impact of semiconductor shortages on our production.
As for Imaging, our competitive lineup of full frame mirrorless cameras and our enhanced lineup of lenses contributed to continued strong sales of cameras that actually exceeded expectations Additionally, through an improvement in product mix and efficient sales promotion, our Imaging business was able to post a 12 3 profit ratio, stabilizing earnings.
Demand for cameras is growing steadily thanks to the strength of consumer spending in the United States and elsewhere, and the increasing number of people picking up cameras as a hobby and image expression as a new way of using time amid the COVID 19 pandemic As a result, we raised our outlook for the size of the global camera market by 200 thousand units and now expect the overall size to be 6 million units for the full year.
In the second quarter, the share of total sales attributable to the EOS R5 and EOS R6 for which sales remain strong, has increased more than expected.
In addition to this, the number of full frame mirrorless camera users who purchase RF lenses has been accelerating since the launch of the R5 and R6 creating a situation where we cannot supply some products in a timely manner.
From a longer perspective, in order to meet the strong demand for RF lenses as well as expand the range of image capture, a 400 mm and a 600 mm super telephoto lens that combine high image quality and light weight, as well as a macro lens that delivers improved maximum shooting magnification of up to 1 4 x were added in July By continuing to enhance our lineup of RF lenses, which currently consists of 22 lenses, we will further strengthen our full frame mirrorless camera system and increase our market share in this category.
As for our outlook, in response to strong demand for camera bodies, we raised our unit sales projection by 100 thousand units, and now project full year unit sales to be 3 million units We also raise our sales projection to reflect strong sales of lenses In unison with this, we will also strive to maintain stable profitability by continuing efforts to optimize expenses.
Canon Q2 2021 Financial Information
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Via: The Digital Picture