Canon Imaging: 23% decline in camera sales, 81% drop in operating profit

Canon has published its first quarter financial results for 2019, and it doesn’t make for pleasant reading. The Imaging Unit reported an 81.6% collapse in operating profit from Q1 2018, on the back of a 23% drop in camera sales over the same period.

That amounts to a decline from ¥25.7 billion ($229.8 million / £178.4 million) last year to ¥4.7 billion ($42 million / £32.6 million) this year. This doesn’t take into account a further ¥1.9 billion ($16.9 million / £13.2 million) deficit in operating profit from broadcast and cinema cameras, which were assigned away from the Imaging Unit.

Thank you for reading 5 articles this month* Join now for unlimited access

Enjoy your first month for just £1 / $1 / €1

*Read 5 free articles per month without a subscription

Join now for unlimited access

Try first month for just £1 / $1 / €1

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.