Canon 2nd Quarter 2024 Financials – Making Money

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Jul 20, 2010
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Canon released its financials for the second quarter of 2024, and everything is up and looking good for Canon. Sales are up, profit is up, and net operating profit is up. Everything that would make a CEO smile is looking for Canon this last quarter. It's really hard to argue with those overarching stats from

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Other sites are trying to spin this financial report pretty badly.
They ignore the recovery and are talking about the crash 2 quarters ago.
The would have been right to raise the alarm 2 quarters ago when Canon decided to lay so many people off to get back on track.

The printer division still looks like a disaster though.
 
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Other sites are trying to spin this financial report pretty badly.
I wonder how much of that is cluelessness about how to read and interpret financial data (people with the business acumen of a bowling ball), versus how much is intentional misrepresentation because 'Canon is Doomed' generates a lot more traffic than 'Canon is doing well as usual' (people with a good business acumen as far as it benefits them but the ethical sense of a bowling ball).
 
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I wonder how much of that is cluelessness about how to read and interpret financial data (people with the business acumen of a bowling ball), versus how much is intentional misrepresentation because 'Canon is Doomed' generates a lot more traffic than 'Canon is doing well as usual' (people with a good business acumen as far as it benefits them but the ethical sense of a bowling ball).
Your post is an insult to a vast majority of bowling balls! ;)
 
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Other sites are trying to spin this financial report pretty badly.
They ignore the recovery and are talking about the crash 2 quarters ago.
The would have been right to raise the alarm 2 quarters ago when Canon decided to lay so many people off to get back on track.
Some (like Photorumors, “Canon sales are tanking”) have published the Imaging division data from Canon's Japanese subsidiary. Those numbers are pretty bad. And “Canon sales are tanking” gets a lot more attention than “Canons Japanese sales are tanking”.

I agree with @Del Paso that @neuroanatomist has insulted a lot of bowling balls :D .
 
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Other sites are trying to spin this financial report pretty badly.
They ignore the recovery and are talking about the crash 2 quarters ago.
The would have been right to raise the alarm 2 quarters ago when Canon decided to lay so many people off to get back on track.

The printer division still looks like a disaster though.

I got out of bed and dragged my arse to the computer to read that. It sounds like that's just Canon Japan's numbers?

I have to read it a little more.

yeah, it has to be the overall net sales are only 161 billion yen, versus Canon Global being 1167 billion yen.

photorumors is usually much better than that.
 
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I got out of bed and dragged my arse to the computer to read that. It sounds like that's just Canon Japan's numbers?

I have to read it a little more.
The photorumors article states, “Sales and unit sales decline in the domestic market from January to June 2024 compared to the same period last year". Of course, they chose to title the article, ‘Canon Sales are Tanking’ and neglected to mention that Japan is less than 9% of the market and that Canon’s global sales tell a very different story.

Maybe the blogger got hit in the head with a bowling ball. I feel bad for the bowling ball.
 
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The photorumors article states, “Sales and unit sales decline in the domestic market from January to June 2024 compared to the same period last year". Of course, they chose to title the article, ‘Canon Sales are Tanking’ and neglected to mention that Japan is less than 9% of the market and that Canon’s global sales tell a very different story.

Maybe the blogger got hit in the head with a bowling ball. I feel bad for the bowling ball.

I always thought photorumors is usually better than that, but his sites aren't on my normal quick scan list every day.

I do have to write up about the R3 apparently. I just saw that in petapixel. I'll do that in 5 hours when I wake up for real though and have coffee, I need to think about that a bit more anyways.
 
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Considering Canon was unusually quiet for 1H24 announcements, the numbers are pretty good.
There is no doubt that the heavily discounted global pricing for bodies (and some lenses) reduced the inventory and was still profitable.
The R5/R3 discounted price may influence potential new R5ii/R1 sales in their bang per buck "value proposition" (see... I can do corporate speak!).

Lots of chatter that users are happy with their R5 (including me) vs upgraders even if there are massive improvements in virtually all areas of the new camera. 5Div replacement may go to R5 sales instead of R5ii simply due to the lack of need for better features vs R5 and lower cost of entry to quality mirrorless.

I truly hope that the discounted R5 stays in the line up replacing the R so that my insurance premium stays lower. I don't need to price in a replacement R5ii in that case.
 
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Some (like Photorumors, “Canon sales are tanking”) have published the Imaging division data from Canon's Japanese subsidiary. Those numbers are pretty bad. And “Canon sales are tanking” gets a lot more attention than “Canons Japanese sales are tanking”.

I agree with @Del Paso that @neuroanatomist has insulted a lot of bowling balls :D .

he could have easily put "Domestic" in the title if he wanted to. I see him try and explain his post, etc. in the comment section. a title change would have saved all that if he was really that concerned.

Anyways, I added a section in this article talking about the original dclife report. it's probably not necessary but we do have "those kind of people" in the forums these days.
 
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Many of my friends are trying to get me to go over to Nikon. Some Sony people as well. But hardly anyone left shooting with Canon (comparatively in my New Jersey groups at least). The good part is, when I lead any workshops, I refer to my co-lead to help the people out with their Nikon cameras - lol.

I lived 10 minutes from the Service Center in NJ, and that, and teh fact that I bought my first Canon 30+ years ago kept me with teh brand ---- It's LOYALTY.
Then the Service Center relocated, then they cut here and there, then they said no 3rd party lenses even though we don't make what still photographers would like us to make. And when we do make a lens, we can't keep up with the demand and it's always out of stock. As a loyal customer, I do feel jerked around A LOT.

But that's teh thing with companies....When you work for one, there is a lot of internal savings, and saying targets are not met, blah blah blah. On the outside the financials alway look good, especially for press releases. It does never really tell the whole story.

So, Canon....what about letting Sigma and Tamron produce lenses we want that you don't provide. Then I can tell people to buy Canon again.

I am not switching (yet). In too deep. But a good tax return, and some extra spending money.....I would not rule it out, especially if you continue to drag your feet on things "enthusiastic nature amataeur photographers" want. Like a lightweight and small 500 f5.6. What, Nikon and Sigma have those? But not for Canon.....

Pffffftttttt......
 
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