The Canon Financial Results Presentation includes new and intriguing topics. For instance, the merging of the Canon Imaging division into the Optical Industry division, which will allow the integration of Canon’s vast optical technology to strengthen its camera lineup. Also, Canon states that it will expand the lineup of mirrorless cameras and lenses for professionals.

Elimination of the Imaging Systems

According to Canon Financial Results presented at the Corporate Strategy Conference 2021 by Fujio Mitarai, Chairman & CEO, the company will change its business structure to improve the synergy between product lines. That means, elimination of the Imaging Systems to be integrated into Optical Industry. Canon says that this change will expand the business field from cameras to the Optical Industry and thus will simplify the development of cameras and lenses lineup dedicated for professionals and advanced amateurs. Also, Canon adds that it will focus on “Next-generation Consumer Video Systems”.

We aim to expand our business field from cameras to the optical industry by integrating our optical technologies cultivated in our camera business with the wide variety of other technologies that we possess.

Canon

The interchangeable-lens camera market has begun to bottom out

As stated in the speech summary: “The camera market has contracted significantly due to advances made in smartphone image capturing functions. Despite this, the broader optical industry is a promising growth area for imaging devices that comprise mainly lenses and sensors. We aim to expand our business field from cameras to the optical industry by integrating our optical technologies cultivated in our camera business with the wide variety of other technologies that we possess. The interchangeable-lens camera market continues to shrink and has already shrunk to one-third of its peak size, but the pace of decline has slowed year after year and we now have a sense that it has begun to bottom out”.

Going forward, we plan to maintain our sales revenue, keeping our top market share position by expanding our lineup of mirrorless cameras and lenses for professionals and advanced amateurs who are people that are particular about image quality and camera functions.

Canon

Expanding the cameras for professionals

Canon states that: “Going forward, we plan to maintain our sales revenue, keeping our top market share position by expanding our lineup of mirrorless cameras and lenses for professionals and advanced amateurs who are people that are particular about image quality and camera functions.  In addition, we will work on the construction of next-generation consumer video systems. We will expand these new businesses to the same scale as cameras and network cameras and grow them as the third pillar supporting our optical industry.

Discussion

Canon has merged its famous Imaging Systems to Optical Industry in order to facilitate the synergy in production. Regarding high-end mirrorless cameras, Canon states that this section will continue to grow, which means more releases are expected. There’s no mentioning regarding cinema cameras, however, between the lines it can be understood that Canon’s intentions are utilizing its sensors technology to be implemented in higher efficiency on its professional products (=cinema cameras). Anyway, that is our interpretation. What’s yours?