Canon gets $270 million boost thanks to strong R5 and R6 sales

Canon gets $270 billion boost thanks to strong R5 and R6 sales
(Image credit: Future / Digital Camera World)

Despite challenges from COVID and manufacturing issues, Canon has revised its latest earnings forecast up by $270 million, powered by strong sales of its two newest mirrorless cameras particularly in China. 

For its fiscal year ending December 2020, Canon announced that it is revising its consolidated net income to ¥80 billion – approximately $772 million / £565 million / AU$997 million. It said this is due to the performance of the Canon EOS R5 and Canon EOS R6 in the Chinese market, prompting a significant increase of ¥28 billion ($270 million / £198 million / AU$349 million) on its previous forecast.

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James Artaius

The editor of Digital Camera World, James has 21 years experience as a journalist and started working in the photographic industry in 2014 (as an assistant to Damian McGillicuddy, who succeeded David Bailey as Principal Photographer for Olympus). In this time he shot for clients like Aston Martin Racing, Elinchrom and L'Oréal, in addition to shooting campaigns and product testing for Olympus, and providing training for professionals. This has led him to being a go-to expert for camera and lens reviews, photo and lighting tutorials, as well as industry news, rumors and analysis for publications like Digital Camera MagazinePhotoPlus: The Canon MagazineN-Photo: The Nikon MagazineDigital Photographer and Professional Imagemaker, as well as hosting workshops and talks at The Photography Show. He also serves as a judge for the Red Bull Illume Photo Contest. An Olympus and Canon shooter, he has a wealth of knowledge on cameras of all makes – and a fondness for vintage lenses and instant cameras.