Connect with us


Canon’s net profit fell by a third



Canon has published a report for the next quarter. Since this was the fourth quarter of 2020, the report also contains data for the year as a whole.

Quarterly revenue on an annualized basis remained almost unchanged, being less than in the fourth quarter of 2019, just 0.8%. At the same time, the operating profit was increased by 45.4%, and the net – by 64.3%.

In terms of full year 2020, revenue was $ 30.387 billion. This is 12.1% less than in 2019. Operating income for 2020 was $ 1.063 billion, 36.6% less than reported in 2019. Net income after taxes in 2020 was $ 801.1 million. This indicator decreased by 33.3% in comparison with the previous year.

The authors of the report note the negative impact of the COVID-19 pandemic. According to them, the gradual recovery in the main markets for Canon products began only in the second half of the year.

If we look at the dynamics by line of business, sales of office printers and MFPs, as well as supplies for them, decreased compared to 2019 due to the closure of offices. Digital camera sales also declined, but they exceeded expectations in the second half of the year, driven by consumer interest in the full-frame mirrorless EOS R5 and EOS R6. Due to the shift to remote work and training, sales of inkjet consumer printers were significantly higher than in 2019, but sales of medical equipment decreased. The report noted strong demand for lithography equipment for the production of semiconductor products and OLED panels. At the same time, sales of lithographic equipment for the production of liquid crystal panels decreased compared to 2019.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

News2 hours ago

Huawei’s newest dual-screen flagship goes on sale

Today in China, sales of the new flagship smartphone Huawei Mate X2 will start, which received a folding design and...

News3 hours ago

The successor to last year’s best-selling Samsung Galaxy A51 turns out to be waterproof

Information about the Samsung Galaxy A52 smartphone continues to appear with enviable regularity. Insider Evan Blass, who regularly provides the...

News5 hours ago

The new king: Sony IMX800 sensor in 1 “optical format

It is reported that Sony is ready to announce the new Sony IMX800 image sensor, which will be the world’s...

Phones5 hours ago

Inexpensive Redmi Note 10 with AMOLED screen in the first live photos

Today the first photos of the new smartphone Redmi Note 10 were published on the Web, which was shown in...

News5 hours ago

US to redefine supply chains, hoping to reduce technological dependence on China

The US is highly dependent on other countries for high-tech products, and President Biden is looking for ways to reduce...

Components5 hours ago

Phison Pioneers SD Express (SD 7.0) Cards

Phison Electronics, known for its SSD controllers, announced that it will be the first in the industry to release PCIe...

News6 hours ago

SMART Modular has DDR5 memory modules ready

SMART Modular has announced a family of DDR5 memory modules. Designed in response to explosive data growth, DDR5 memory is...

News6 hours ago

15 years of leadership: Samsung is # 1 in the TV market

According to the latest data from research firm Omdia, Samsung Electronics retained its leadership in the global TV market, which...

Most Popular