Canon has published its 3rd quarter 2023 results, showing better sales regarding Imaging Systems, and with optimistic projections into the future, mainly for entry-level mirrorless cameras. No word regarding the professional market. Highlights are below.

Canon’s Third Quarter 2023 Results

Canon Inc.’s Third Quarter 2023 Results deck was published. The presentation demonstrates solid improvement regarding sales of interchangeable mirrorless bodies, especially entry-level cameras. As for the future, Canon says that there will be a continued growth in demand for online video content. However, Canon doesn’t mention its professional cameras and prefers to focus on entry-level options. Unfortunately, no word on Cinema EOS. Read the highlights below.

To meet the diverse needs of camera users and to attract new users, we have expanded our mirrorless camera lineup from full-frame to entry-level models. As for interchangeable lenses, we have already added 5 lenses this year and have increased the number of lenses to 38 so far.

Canon

Results: Imaging Systems

As stated by Canon: “The interchangeable lens camera market remains solid, with new products from each company stimulating demand. As a result, we expect the market to be 5.85 million units this year, which is slightly larger than last year. In the third quarter, our sales of new products such as the EOS R6 Mark II ($1,999 on Amazon) , which was launched late last year, and the EOS R50 ($814.99 on Amazon) and EOS R100, the first entry-level models of our EOS R series, which were released in the first half of the fiscal year, increased steadily, and overall unit sales were almost at the same level as last year. To meet the diverse needs of camera users and to attract new users, we have expanded our mirrorless camera lineup from full-frame to entry-level models. As for interchangeable lenses, we have already added 5 lenses this year and have increased the number of lenses to 38 so far. As a result, we are steadily increasing our share of the mirrorless market through synergy between the camera bodies and lenses. As the market has recovered to a state where there is enough supply to meet demand, all competitors are gradually increasing sales investments. As a result, in the fourth quarter, which is the year-end selling season, we will increase sales volume with appropriate promotions and aim for 2.9 million units this year”. 

The interchangeable lens camera market remains solid, with new products from each company stimulating demand. As a result, we expect the market to be 5.85 million units this year, which is slightly larger than last year. In the third quarter, our sales of new products such as the EOS R6 Mark II, which was launched late last year, and the EOS R50 and EOS R100, the first entry-level models of our EOS R series.

Canon

Outlook: Imaging Systems

Canon adds: “As for digital interchangeable-lens cameras, demand is expected to remain solid during the year-end selling season in the fourth quarter. For network cameras, market growth is expected to remain stable due to the continued expansion of security applications and growing demand for applications to enhance productivity and quality at manufacturing and sales sites. In addition, the needs for downsizing and remote control in professional video production equipment are expected to continue, supported by continued growth in demand for online video content”.

Here you can download the full materials.