Canon Financials Show Tighter Supply Coming

Canon released details (Japanese) about its financial performance, and made a few predictions. The news is good in that demand is growing, but not so great in terms of how many cameras Canon anticipates it can make, given supply constrictions. The market didn’t like the forecast, moving the share price down 10 percent in this morning’s trading despite having precisely met earnings expectations for the quarter.

It lowered its camera sales projections by 50,000 units. It also lowered its expectations of the camera market itself by the same proportion, anticipating that the same issues it is experiencing will be felt by the other manufacturers. This would comprise a roughly 2 percent market shrinkage.

Canon indicated it will have 26 released RF lenses by the end of the year, only about 65 days away. This meshes with the expectation that the coming launch of the R3 camera in November will come with 2 additional lenses, as there are so far 24 released lenses in the RF line.