As part of Canon’s annual financial results presentation, the company’s Chairman and CEO Fujio Mitarai has explained some strategies going forward, including the plan to release lenses at pace with current production for the next several years.
Driven by Solid Demand for Higher-End Cameras
In documents published on Canon’s website, spotted by Canon Rumors, Mitarai explains that while the overall camera market continues to shrink, this issue has mainly affected a collapse in sales numbers for entry-level models and the demand from professionals and advanced amateurs has, in contrast, been strong.
“Overall, the market seems to be bottoming out Over the past several years, we have worked to raise the appeal of the EOS R system by enhancing our lineup with highly competitive full-frame mirrorless cameras and RF lenses,” he says. “As a result, we have established a solid position in mirrorless cameras, and are now in a situation where we can target the top market share position.”
Mitarai says that Canon plans to leverage its position to increase its market share with the goal of becoming the number one in the global market share for mirrorless cameras. As part of this, and to maintain sales and further raise its profitability, Canon’s graphics shows the plan to expand the lens lineup at the “same pace” that it has already established over the last two years. Given that Canon has announced eight lenses between 2020 and 2021, that can be extrapolated to mean the company will release at least eight new lenses every year through 2025 — or at least 32 new RF lenses over the next four years.
Canon also states that it plans to improve its profitability by expanding automation in its factories and “improving development efficiency.”
Growing its Imaging Business in Other Sectors
Canon points to successes in its consumer camera division thanks to unusual and experimental camera design, such as the PowerShot Pick and the PowerShot Zoom cameras, indicating the company will continue to develop and innovate in this manner heading into the next several years.
Mitarai also says that it plans to move its SPAD sensors into mass production later this year. The company says these cameras can take full-color photos with excellent color accuracy in the dark and are expected to be deployed in “various applications.” Canon also plans to develop its technologies for in-vehicle cameras.
Image credits: Header image provided courtesy of Canon USA.