Canon: The Camera Market Is ‘Mostly Collapsed’ | Whuff News


Canon sees rosier days ahead for its camera business. The company’s recently released second quarter 2022 financial results include a Q and A segment that addresses questions about the brand’s future in photography. According to the document, Canon feels that “the camera market has fallen significantly short of its current size.”

Canon’s take on the camera market

Related: The report says Nikon will pull the plug on DSLRs.

It features a Q and A as well as other juicy answers about the future of DSLRs. With recent reports that Nikon is getting ready to ditch mirrorless cameras, where does that leave Canon?

“Going forward, we expect the professional and advanced amateur segments to expand further and products to become more highly developed. Accordingly, we expect the overall market to grow from now on. As for DSLR cameras, we will continue to offer products as long as there is demand,” the document reads.

Therefore, Canon’s future focus will clearly be on advanced models rather than entry-level cameras. But it’s not clear if and when the brand will include a DSLR product. Then again, while some may say DSLR is dead, sales figures say otherwise.

Canon’s financial perspective

Related: Cash-strapped storage company Drobo has filed for Chapter 11 bankruptcy

In what looks to be a very bad thing in the rearview mirror, Canon is looking to not only double down on its high-end camera offerings, but to expand its footprint with new investments. The company also indicated that it expects supply chain issues and inflation to ease in the near term.

“Even if global production recovers smoothly, it may take up to a year for inflation to come down naturally due to commodity shortages caused by supply chain disruptions, etc.” We expect to continue to grow as we diversify our business portfolio and actively invest in further developing our products.

All this is good news and it’s about time we took advantage of it. With recent reports of camera body retirements, lens line discontinuations, product shortages, brand losses, and more, it’s good to know that a bright future for the industry may be just around the corner.



Source link