# Canon posts first quarter of 2020 financial results



## Canon Rumors Guy (Apr 23, 2020)

> Canon has posted their first quarter of 2020 financial results, as expected, COVID-19 has impacted their businesses across the board.
> *From Canon:*
> In the first quarter, amid ongoing camera market contraction, we posted a significant drop in revenue. This was due to a shortage of products linked to supply-chain issues that arose in connection with COVID-19.
> Going forward, we will make every effort to minimize the sales impact, carrying out flexible parts procurement that takes into consideration the operating status of suppliers and clarifying our priorities as it relates to the production of each model.
> In addition to the impact on supply, sales of interchangeable-lens cameras were also greatly affected. One after another, life events were canceled or postponed and chances to use cameras decreased. In addition to this, we believe it will take time to see a recovery in the demand for cameras, which are considered luxury items, even after the global economic turmoil has...



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## PFloyd (Apr 23, 2020)

I see they referenced the R5 announcement, which has yet to be announced


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## koch1948 (Apr 23, 2020)

Canon also referenced the G series models. Maybe they will update the series with a PowerShot G9 X Mark III.


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## vjlex (Apr 23, 2020)

> Despite the difficult business environment, we will steadily push forward our strategy that focuses on models for professionals and advanced-amateurs to maintain medium- to long- term profitability.



Glad to hear this. Sounds like they plan to charge ahead. I think that's the best strategy.


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## Stig Nygaard (Apr 23, 2020)

PFloyd said:


> I see they referenced the R5 announcement, which has yet to be announced




They made a reference to the "development announcement":



> announced the development of a new full-frame mirrorless camera, the EOS R5




The development announcement was in February:








Canon announces development of EOS R5 with IBIS, '8K' video and 20fps shooting


Canon has announced the development of the R5 - a flagship RF-mount camera capable of 8K video and 20fps shooting. Details are scant, but the new camera is expected to be released at some point this year, alongside nine new RF lenses and two teleconverters.




www.dpreview.com


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## blackcoffee17 (Apr 23, 2020)

How many RF lenses were introduced this year? I only recall the 100-500 and 24-105. I am not sure if Canon counts the 2 teleconverters as lenses. 
Does that mean there are still 7 RF lenses to announce?


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## Ripley (Apr 23, 2020)

Good luck and God's speed Canon.


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## [email protected] (Apr 23, 2020)

I think you guys are misinterpreting the "popular price range" section of their statement. It's not low-end bodies that refers to, but rather cheaper lenses. Both before and after that phrase, they're still talking about lenses.

What this means is we'll get a bunch of RF non-L options. This may take up a good number of those mentioned 9 slots.


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## AEWest (Apr 23, 2020)

Nothing about DSLRs including 1dx3.


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## Mistral75 (Apr 23, 2020)

AEWest said:


> Nothing about DSLRs including 1dx3.


DSL what?


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## unfocused (Apr 23, 2020)

I'm concerned about that "flexible parts procurement" reference. If they mean finding alternative suppliers outside of China, it could be a good thing. If it means outsourcing components that are produced in Japan that could be a bad thing. I also worry because if they are outsourcing to multiple suppliers it becomes harder to maintain consistent quality control.


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## unfocused (Apr 23, 2020)

AEWest said:


> Nothing about DSLRs including 1dx3.


I noticed that. "Hey investors, look at this shiny object we have for you. Don't look at how the market is going to crap."


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## Mistral75 (Apr 23, 2020)

blackcoffee17 said:


> How many RF lenses were introduced this year? I only recall the 100-500 and 24-105. I am not sure if Canon counts the 2 teleconverters as lenses.
> Does that mean there are still 7 RF lenses to announce?



RF 24-105mm f/4-7.1 IS STM (announced)
RF 100-500mm f/4.5-7.1 (development announced)
RF 1.4x and 2x (development announced)
five additional lenses planned in 2020 (five empty slots on the roadmap).
Total is nine.


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## Ruiloba (Apr 23, 2020)

Hey wait... R5 also shot's stills?


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## AEWest (Apr 23, 2020)

Stig Nygaard said:


> They made a reference to the "development announcement":
> 
> 
> 
> ...



Let me see... they make an announcement about a development announcement while waiting for an actual announcement - or maybe an announcement of a date when they will confirm an actual announcement. Got it.


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## erader (Apr 24, 2020)

canon will be okay. Nikon not so much


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## Chris.Chapterten (Apr 24, 2020)

Mistral75 said:


> RF 24-105mm f/4-7.1 IS STM (announced)
> RF 100-500mm f/4.5-7.1 (development announced)
> RF 1.4x and 2x (development announced)
> five additional lenses planned in 2020 (five empty slots on the roadmap).
> ...


Really hoping for a 35mm f1.2!


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## Jack Jian (Apr 24, 2020)

Good side of Coronavirus, because it impacts market, manufacturers will be throwing their best to attract buyers at low price for their Financials to get back on track. Good especially for Canon as they have been a bit 'stagnant' spec wise and it's the right time to throw in all good things with the new mount, unlike other brands who don't much more to offer after COVID-19 crisis.


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## canonnews (Apr 24, 2020)

[email protected] said:


> I think you guys are misinterpreting the "popular price range" section of their statement. It's not low-end bodies that refers to, but rather cheaper lenses. Both before and after that phrase, they're still talking about lenses.
> 
> What this means is we'll get a bunch of RF non-L options. This may take up a good number of those mentioned 9 slots.


yes, i took it as they meant popular priced lenses.


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## Del Paso (Apr 24, 2020)

Hard times ahead for Nikon ( EOS R5, RF lenses,covid 19).Sad !


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## Kit. (Apr 24, 2020)

Ruiloba said:


> Hey wait... R5 also shot's stills?


Yes, but Photokina was planned for May.


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## masterpix (Apr 24, 2020)

Ruiloba said:


> Hey wait... R5 also shot's stills?


Myabe.. no one knows...


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## Buck (Apr 24, 2020)

They are still turning a profit and have plenty of cash on hand. They are in good shape even with lower sales and reduction in overall profit.


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## SecureGSM (Apr 24, 2020)

Buck said:


> They are still turning a profit and have plenty of cash on hand. They are in good shape even with lower sales and reduction in overall profit.


Markets and sales took a dive abruptly around mid of March. The current quarter results will be known in July. The numbers wont' be pretty.

p.s. Nikon and Olympus are postponing the announcement of their financial results. Meaning the figures are so bad that they are concerned of broader markets implications and consequences should they decided to announce.. It occurs to me, they will either skip 1Q 2020 reporting all together or will come up with some sort of massaged statistically figures i.e. Jan 2020 YoY or rolling average across a number years to smooth the spikes out by excluding the Late Feb - end of March figures. However, 2Q 2020 will be a real shocker. Nothing like we seen before.
Many larger multinationals (Enterprise Market) now offering a deferred interest free post paid contractual payment options to go along with product and professional services sales. Meaning that revenue will be recognised with a 90-days delay (at least). However the cost of the contract will be recognised at the time of signing.. so, a negative revenue at signing and it ill stay negative for the entire quarter.









Olympus and Nikon are postponing the announcement of their financial results - Photo Rumors


Olympus and Nikon are both postponing the announcement of their financial results: In light of the spread of the new coronavirus (COVID-19) in countries around the world, Olympus Corporation (hereinafter the “Company”) and its subsidiaries are requesting the domestic and overseas employees to...




photorumors.com


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## Mistral75 (Apr 25, 2020)

^ Nikon and Olympus cant '_skip 1Q 2020 reporting all together_ ' since the first quarter of the calendar year (January - March) is the last of their fiscal year: like most Japanese companies (Canon being an exception to the rule) their fiscal year goes from the 1st of April until the 31st of March.

What Nikon and Olympus will report on by the end of May is the financials of their whole FY2020 (April 2019 - March 2020). They can't skip that for obvious reasons.  Olympus were also supposed to reveal and explain their new strategic plan, including a clear roadmap for their imaging business. I guess this will have to wait. (or won"t it?)


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## SecureGSM (Apr 25, 2020)

Mistral75 said:


> What Nikon and Olympus will report on by the end of May is the financials of their whole FY2020 (April 2019 - March 2020).


Yup, that’s what I suspect as well. However the point I was trying to make is that I see a (Distinctive) possibility of Nikon and Olympus reporting FY2020 results but not their January-March 2020 quarter result.


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## Buck (Apr 25, 2020)

SecureGSM said:


> Yup, that’s what I suspect as well. However the point I was trying to make is that I see a (Distinctive) possibility of Nikon and Olympus reporting FY2020 results but not their January-March 2020 quarter result.



If you have the year end numbers and the 3Q numbers, the 4Q numbers will only take a few minutes to determine the actual decline


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## Dragon (Apr 25, 2020)

koch1948 said:


> Canon also referenced the G series models. Maybe they will update the series with a PowerShot G9 X Mark III.


A G3x with an EVF, please.


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## SecureGSM (Apr 26, 2020)

Buck said:


> If you have the year end numbers and the 3Q numbers, the 4Q numbers will only take a few minutes to determine the actual decline


that would be a key assumption though.. A trickery, I know.. however postponing the announcement of their financial results till end of May due to accountants are working from home and unable to complete the reporting in April is a pure nonsense


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## TAF (Apr 26, 2020)

_...we will expand sales of camera bodies and stimulate demand for full-frame mirrorless cameras
_
Attention competitors, prepare to be annihilate.

The gauntlet has been thrown; may the R5 be priced at $2999 to prime the pump and restore Canon’s profitabilit.


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## usern4cr (Apr 27, 2020)

TAF said:


> _...we will expand sales of camera bodies and stimulate demand for full-frame mirrorless cameras_
> 
> The gauntlet has been thrown; may the R5 be priced at $2999 to prime the pump and restore Canon’s profitabilit.


Ah, someone else mentioned $2999 for the R5? Good to hear. I've been guessing for a while that it'll be $2999 to $3499. I know that would surprise/shock most that post here if it came out that way, but I sure do hope it turns out to be true. If there's one thing Canon needs right now, it's a happy rush of buyers clamoring to buy their bodies and lots of their stunning lenses. $Ca-ching$!!!


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## sanj (Apr 27, 2020)

$3499


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## TAF (Apr 27, 2020)

usern4cr said:


> Ah, someone else mentioned $2999 for the R5? Good to hear. I've been guessing for a while that it'll be $2999 to $3499. I know that would surprise/shock most that post here if it came out that way, but I sure do hope it turns out to be true. If there's one thing Canon needs right now, it's a happy rush of buyers clamoring to buy their bodies and lots of their stunning lenses. $Ca-ching$!!!



That is the range I am expecting. Given the current economic conditions, I would hope that it would be at the lower end.

The associated question then will be how much with the RF 24-105L kit lens?


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## usern4cr (Apr 27, 2020)

TAF said:


> That is the range I am expecting. Given the current economic conditions, I would hope that it would be at the lower end.
> 
> The associated question then will be how much with the RF 24-105L kit lens?


The RF 24-105L seems to be getting some very good reviews. At $1100 currently it is probably a very good lens to pair with the upcoming R5. Hopefully if they have a kit option with the R5 the price will be less so as to be worth the kit, and probably a very good choice to get.


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