Canon cashes in with $8.9 BILLION in camera sales

News
By
published

Canon's imaging division records $8.9 billion in sales in 2023, a 7.2% year-on-year increase, with the consumer market booming

Canon EOS R3
(Image credit: Canon)

If Canon is your system of choice then you will be pleased with the company's 2023 financial results, which saw the imaging division bag a massive ¥861.6 billion in sales (approximately $8.9 billion) – a year-on-year increase of 7.2%.

Half a decade on from the launch of the EOS R system, the results show that the best Canon cameras and RF lenses have seamlessly transitioned the company's business away from DSLR equipment and firmly into the mirrorless era.

Within this fiscal report, Canon states: "In the Imaging Business Unit, sales of interchangeable-lens digital cameras, in particular mirrorless cameras like the EOS R6 Mark II, a full-frame mirrorless camera released the year before last, and the new entry-level EOS R50 and EOS R100 mirrorless cameras launched last year, remained solid. 

"Sales of RF-series interchangeable-lenses remained solid as well. Sales of network cameras increased thanks to solid demand and enhanced sales activity against the background of diversifying applications. These factors resulted in total sales for the business unit of ¥861.6 billion, a year-on-year increase of 7.2%."

(Image credit: Canon)

The market for consumer-grade cameras is clearly Canon's sweet spot, with the R6 Mark II, R50 and R100 all being key cameras that have contributed to the year-on-year increase for the company.

This also alludes to the mirrorless revolution of the company which saw Canon expand the overall sales of the company's interchangeable-lens mirrorless cameras with 2.88 million units shipped.

While Canon is still in the DSLR market, how long for is yet to be seen. The financial statement does not show a split between its mirrorless sales or those from DSLR purchases, but I think it is safe to say that the majority comes from mirrorless.

With the rise of professionals purchasing the Canon EOS R3, and the new flagship Canon EOS R1 on the horizon, I'm sure we will see profits in the black for a little while longer.

Canon makes many of the best mirrorless cameras and best DSLRs, covering everything from the best professional cameras to the best cameras for beginners.

See more Cameras News
TOPICS
Sebastian Oakley
Sebastian Oakley
Ecommerce Editor

For nearly two decades Sebastian's work has been published internationally. Originally specializing in Equestrianism, his visuals have been used by the leading names in the equestrian industry such as The Fédération Equestre Internationale (FEI), The Jockey Club, Horse & Hound, and many more for various advertising campaigns, books, and pre/post-event highlights.

He is a Fellow of The Royal Society of Arts, holds a Foundation Degree in Equitation Science, and is a Master of Arts in Publishing.  He is a member of Nikon NPS and has been a Nikon user since the film days using a Nikon F5 and saw the digital transition with Nikon's D series cameras and is still to this day the youngest member to be elected into BEWA, The British Equestrian Writers' Association. 

He is familiar with and shows great interest in street, medium, and large format photography with products by Leica, Phase One, Hasselblad, Alpa, and Sinar. Sebastian has also used many cinema cameras from the likes of Sony, RED, ARRI, and everything in between. He now spends his spare time using his trusted Leica M-E or Leica M2 shooting Street photography or general life as he sees it, usually in Black and White.