Canon Excel in 2007 First Quarter

The first quarter financial results in 2007 looks very healthy for Canon and this was expected. Here's what they say in the first Quarter report for 2007.

“Looking back at the global economy in the first quarter of 2007, economic expansion was fairly steady despite brief concern over the economic impact of such factors as the global downturn in stock prices. The U.S. economy continued to display growth, supported by healthy employment conditions and healthy consumer spending, despite a decrease in housing investment and a moderate slowdown in corporate capital investment.

In Europe, while exports appeared somewhat sluggish due to the appreciation of the euro, the region indicated a trend toward moderate recovery as domestic demand expanded in major European countries, boosted by such factors as increased consumer spending owing to improvements in the employment environment. Within Asia, the Chinese economy maintained a high growth rate while other economies in the region also enjoyed generally favorable conditions. In Japan, the economy maintained a trend toward recovery thanks to such factors as increased capital spending fueled by strong corporate performances and gradual improvements in consumer spending.

As for the markets in which the Canon Group operates, within the camera segment demand for digital single-lens-reflex (SLR) cameras and compact digital cameras continued to realize healthy growth during the quarter.”

" Within the camera segment, demand for digital SLR cameras fueled growth, with the EOS DIGITAL REBEL XTi model, launched in September 2006, selling particularly well which, in turn, led to expanded sales of interchangeable lenses for SLR cameras. Sales of compact digital cameras also continued to expand steadily with healthy demand for the PowerShot SD800 IS model launched in October 2006, which features the DIGIC III image processor. The company strengthened its lineup of compact digital cameras with 6 new models in 2007, including two stylish ELPH-series models and four PowerShot-series models that cater to a diverse range of shooting styles."



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