Canon announced financial results for its third quarter in fiscal year 2025, which reflects all business for the period of July through September, on October 27. Total net sales increased 2% year over year, a record level for the first nine-month period. However, operating profit fell 10% due to U.S. Tariffs, supply chain situations, and currency effects. As a result, the company revised its profit estimates lower for the full year. Although this overall performance reflects mixed results, the Imaging System Business Unit delivered a much stronger performance. The Imaging System Business Unit includes interchangeable lens cameras, lenses, compact cameras, and network cameras. Canon posted net sales of ₲253.6 billion, up 5.9% compared to the same quarter last year.
Despite outside pressure effecting overall profitability, the Imaging segment produced steady growth in Q3. Unit camera sales benefitted from strong entry-level demand, increased customer supply, and a growing lens ecosystem. The unit is on a successful trajectory to hit ¥1 trillion in annual sales by 2025.
Performance of Camera Segment
Sales of interchangeable-lens camera units increased by 5% year over year. The growth was largely attributed to entry-level mirrorless models, primarily the EOS R50 and EOS R100. Demand was strongest in China and other Asian markets, which were driven by an interest among younger users.
Sales of compact cameras also exhibited expansion, aided by higher production volumes, which finally matched market demand. Sales of network cameras increased by 8% and contributed steady growth to the segment total.
For the full year, Canon is now projecting 9% net sales growth in the camera category. The company expects the global interchangeable-lens camera market to grow to 6.8 million units in 2025, which would be a 6% increase from 2024. Entry-level demand and targeted promotion were factored into this outlook.
Canon indicated that it will promote increased full-frame mirrorless sales in 2026, suggesting there are new plans underway to introduce new products. Apparently, inventory levels for popular models are considered healthy, thus reducing the risk of shortages as seen in recent years.
The RF lens lineup is now made up of more than 70 lenses that will provide more robust support for both new and older camera bodies.
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