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Canon has ammended their Q2 2022 financials with their thoughts about the future of the camera market. It’s one that we tend to agree with. The entry-level market formerly represented by the Powershot line and EOS Rebel line is essentially over for the obvious Smartphone reasons.
A few years ago Canon did say that they see the future of the business to be in producing products to target specific types of users. Now Canon thinks that they will see growth in the prosumer and professional spaces. A Sony executive’s recent silly claim that Smartphones would surpass ILCs in performance within three years aside, Canon will continue to listen to customers and produce targeted products to meet their ever changing needs.
Canon also says that they will continue to produce DSLRs as long as their is demand. I would not expect new DSLRs to be announced, but cameras like the Canon EOS-1D X Mark III will be a viable tool for years to come.
Below is an excerpt from the ammended financial presentation.
Q1. What is your outlook for the external environment in 2023 and the sustainability of your growth going forward?
A1. Even if production around the world recovers smoothly, it will probably take around a year for the inflation caused by the shortage of goods, which arose from supply-chain disruptions etc., to subside naturally. We expect to continue growing as we have transformed our business portfolio and will actively invest to further enhance our products.
Q3. Amid concern that semiconductor capital spending will slowdown, what is your outlook for semiconductor lithography equipment demand in 2023?
A3. Considering the current situation of semiconductor shortages and the technological innovation that is occurring now, we expect demand to remain strong. For this reason, we will continue to invest in production expansion, with a plan to increase our production capacity by at least 50% in the future.
Q5. What is your outlook for the camera market going forward? Additionally, will you continue to offer both Mirrorless and DSLR cameras?
A5. The camera market has largely bottomed out at its current size. Going forward, we expect the professional and advanced amateur segment to expand further and that products will become more highly developed. Accordingly, we expect the overall market to grow from now on. As for DSLR cameras, we will continue to supply products as long as there is demand.