Reuters reports about the new quarterly financial report from Canon:
Japan’s Canon Inc said quarterly operating profit fell by a fifth as demand for digital cameras slumped and it spent more on developing new businesses, but it nudged up its full-year earnings estimates on a sharply weaker yen.
The consumer shift to smartphones for casual photo taking has pummelled demand for compact cameras, while the growing popularity of lighter mirrorless cameras has taken away market share from higher margin single-lens reflex cameras.
Time to get serious on mirrorless Canon! Where are our new EOS-M lenses?