Canon’s recently released 2024 annual report reveals the company has exceeded its historical sales record from 2007, with its Imaging Business Unit showing particularly strong performance despite challenging global economic conditions. The report shows total net sales reached ¥4.51 trillion (approximately $32.5 billion in today’s exchange rate), with the Imaging Business Unit increasing sales by 8.8% to ¥937.4 billion. Camera sales specifically grew to ¥579.6 billion, up from ¥544.4 billion in 2023. This growth was driven largely by successful new product launches. The EOS R5 Mark II and flagship EOS R1, released in late 2023, performed exceptionally well alongside entry-level models like the EOS R50 and EOS R100. The company maintained its growth momentum in mirrorless cameras throughout 2024, with unit sales exceeding the previous year, and interchangeable lens sales also increasing due to the popularity of high-value-added camera systems. Net sales growth, 2024. Source: Canon According to the company, Canon’s approach focuses on developing products that appeal to both traditional photography markets and emerging content creation segments. The company aims to “satisfy both demand for still image photography from professional photographers and camera enthusiasts, and for diverse video recording from social media users,” recognizing the importance of attracting younger generations to stimulate market growth. Research and development remain a priority, with Canon investing ¥337.3 billion (7.5% of net sales) in 2024. This investment helped the company secure 2,329 U.S. patents, maintaining its position as a leader in imaging innovation. The company’s manufacturing strategy leverages technologies across different business divisions,...
Published By: CineD - Yesterday