The first quarter of fiscal 2015 for Canon Inc. was about declined profits on declined revenue. This is attributed to a decrease in the sales of digital cameras and increased expenditure for research and development. The sale of office equipment was reasonable but it could not make up for the slow performance of the imaging division. The total revenue for the period declined by 1.3% and fell to 857.4 billion yen. A dip of 19.9% was observed and an operating profit of 66.19 billion yen was calculated. A net profit of 33.9 billion yen was reported. The interchangeable lens camera system market has seen a decline too and sales of Canon’s IL camera dropped by 22%.
However, the US market has shown an improvement and there has been a noteworthy rise in the sales in comparison to the last year. High end models such as EOS 7D Mark II have been well received. The progress of the compact camera market has been slow but higher models in image quality and zooming ratio have been appreciated. The demand for inkjet printers in developing countries is losing pace. Due to this, the total sales units have dropped.
