Global Supplier Directory
Supplier Solutions
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center

Daily News

Canon Cuts 2005 Sales Forecast
Mar 10, 2004
 Printable format
 Email this Article

Canon Inc. has lowered its sales forecast for 2005 by 5 percent to 3.6 trillion yen (approx. U.S. $32.4 billion), but said profits and revenues would continue to climb.

Canon said in a slide show release on its web site that it was aiming for a group pre-tax profit of 500 billion yen in 2005, compared with the 448 billion yen it earned last year and its 2004 forecast for a profit of 470 billion yen.

Profits at Canon are being powered by healthy demand for multi-function network copiers and hot-selling digital cameras, in which it commands about 20 percent of the global market.

Canon had previously targeted 2005 sales of 3.8 trillion yen, but the yen's surge against the dollar, severe price competition in digital camera makers, and falling prices for color laser beam printers (LBP) appear to be concerning the Tokyo-based firm.

The new target for 3.6 trillion yen would still be above the consensus forecast of 3.448 trillion made by 15 analysts polled by Reuters Research.

"There is a possibility that color LBP prices will fall further, but we are prepared to deal with this development," said Canon President and CEO Fujio Mitarai, as quoted by a company spokesman.

Canon said it planned to bolster its lineup of digital cameras, office equipment, and steppers -- key tools for making semiconductors and liquid crystal displays (LCD).

It also said it planned to begin mass-production of next-generation displays for thin televisions in 2006. Canon and electronics conglomerate Toshiba Corp have conducted research since 1999 on surface conduction electron emitter display (SED) panels, with an eye to eventually cooperating on production.

SED panels are thinner than existing flat panels, are said to consume less energy and -- unlike liquid crystal display (LCD) panels -- do not require backlighting because they produce their own light.

"We want to shoot for (annual) sales of at least 100 billion yen," from displays, Mr. Mitarai was quoted as saying.

In the slide show release, Canon estimated the market for flat panel TVs more than 28 in would grow to 30 million units in 2007 from 1.3 million units in 2003.

Back to Daily News


Daily News


Nov 20, 2014: Report: Drop in affluents' consumer confidence may foretell signal trouble ahead for some retailers

Nov 20, 2014: Most Profitable Industry in the U.S.: Electrical Equipment, Appliance and Component Manufacturing

Nov 19, 2014: LG washing machine global sales top 20 million in 5 years

Nov 19, 2014: Wolf ovens use columnar vertical blower fans to optimize convection

Nov 19, 2014: ASRAC meeting to address home air-conditioner regional standards enforcement

More Daily News>>

RSS Feeds
Appliance Industry
Market Research


November 2014: U.S. Appliance Industry: Market Value, Life Expectancy & Replacement Picture 2014
October 2014: Portrait of the European Appliance Industry
September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014

Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows