Printer Maker Canon Reports Profit Decrease Jan 30, 2009

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Canon Inc., maker of printers, digital cameras and other consumer electronics, reported an 81% fall in quarterly profit and predicted a further slide in annual profit to a 14-year low this year. "A substantial recovery in the economy is unlikely in 2009. Our operating environment will be even harder this year than it was last year," said Canon Managing Director Masahiro Osawa.

The company expects its digital camera sales to fall 7% from a year earlier to 23.9 million units in 2009, its first ever unit sales decline.

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