Cameras, copiers gave Canon record results in 2005

Strong demand for digital cameras and higher-end printers helped Canon achieve record sales and profits in 2005.

Strong demand for its digital cameras, printers and faxes helped Canon achieve record sales and profits in 2005, the company said Monday.

Net sales for the year were up 8.3 percent at YEN 3.8 trillion (US$31.9 billion as of Dec. 31, the last day of the period being reported) and net income increased 11.9 percent to YEN 384.1 billion. Canon's fiscal year runs from January to December.

The company's camera business saw sales rise 15.2 percent on the back of strong demand for digital SLR (single lens reflex) and compact cameras, said Richard Berger, a spokesman for the company. Its EOS Digital Rebel XT and EOS 5D were particularly popular in the digital SLR category, while the PowerShot SD400, SD450, SD550 and A520 were strong performers in the compact camera sector, the company said.

Demand for all-in-one copiers, printers and faxes shifted towards higher-end models and color machines, helping its office imaging business record a 2.9 percent increase in sales. Demand was also strong for laser printers, with Canon reporting a 30 percent sales increase for color models.

The company's decision to curtail PC sales in Japan reduced overall results at its business information products division, which saw sales drop 10.9 percent.

In Canon's precision instruments division, demand for aligners, which are used in the production of LCD (liquid crystal display) panels, was also strong thanks to the rapidly expanding LCD TV market.

The company anticipates an even stronger 2006. It hopes to achieve net sales of YEN 4.1 trillion and net income of YEN 415 billion this year. Those forecasts represent increases of 8.1 percent and 8.0 percent, respectively, on its 2005 results.

The year is likely to see management changes at Canon because Fujio Mitarai, the company's president and CEO, will become head of Japan's powerful Nippon Keidanren business lobby on May 24. Because of work demands, presidents appointed to that post typically take up the title of chairman at their own organizations and leave the day-to-day company affairs to a new president.

Canon didn't announce a new president Monday but it did say that Mitarai would be appointed chairman from May, pending shareholder approval. A report in Monday morning's Nihon Keizai Shimbun newspaper said Tsuneji Uchida, head of Canon's image communication products operations, would be made president.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Martyn Williams

IDG News Service
Show Comments

Cool Tech

Toys for Boys

Family Friendly

Stocking Stuffer

SmartLens - Clip on Phone Camera Lens Set of 3

Learn more >

Christmas Gift Guide

Click for more ›

Brand Post

Bitdefender 2019

This Holiday Season, protect yourself and your loved ones with the best. Buy now for Holiday Savings!

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Aysha Strobbe

Microsoft Office 365/HP Spectre x360

Microsoft Office continues to make a student’s life that little bit easier by offering reliable, easy to use, time-saving functionality, while continuing to develop new features that further enhance what is already a formidable collection of applications

Michael Hargreaves

Microsoft Office 365/Dell XPS 15 2-in-1

I’d recommend a Dell XPS 15 2-in-1 and the new Windows 10 to anyone who needs to get serious work done (before you kick back on your couch with your favourite Netflix show.)

Maryellen Rose George

Brother PT-P750W

It’s useful for office tasks as well as pragmatic labelling of equipment and storage – just don’t get too excited and label everything in sight!

Cathy Giles

Brother MFC-L8900CDW

The Brother MFC-L8900CDW is an absolute stand out. I struggle to fault it.

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Featured Content

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?