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Canon’s Quarterly Camera Sales, Profits Boom

10/26/2006 10:34:00 AM Eastern

Tokyo – Canon reported its net sales and net income were both up by double-digits during its third quarter that ended Sept. 30.

Net sales were up 12.5 percent to $8.37 million worldwide and net income was up 14.9 percent to $949.5 billion versus the same quarter last year.

The camera-maker reported that demand for digital single-lens reflex (SLR) cameras and compact digital cameras had “healthy growth” during the quarter, as well as demand for networked multifunction devices.

In its camera segment Canon said that among digital SLRs, the new EOS Digital Rebel XTi has been well received and sales of interchangeable lenses have increased significantly. Sale of compact model digital cameras have also expanded along with PowerShot SD700 IS, SD630 and SD600 which were launched in the first half. Canon said net sales of its digital cameras expanded by 30 percent in the quarter versus the same time last year.

In digital video camcorder the new HDV models for consumers have sold well as did mini DV and DVD models. As a result camera sales overall for the third quarter were up 15.7 percent from the year-ago period to $1.9 billion. And operating profit in the quarter was up 38 percent to $571 million.

Canon said that demand for laser printers grew for color models and shifted rapidly within the inkjet printer market from single-function to multifunction models, but the segment “suffered amid severe price competition.”

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