Nintendo continues to make headlines, all thanks to Pokémon Go. Now the video game giant had the biggest daily turnover of any company on the Tokyo stock market this past Friday, July 15th.
Canon just released its Q3 2012 earnings reported, and things aren't looking peachy right now for the camera maker: revenue is down 13 percent to $10.3 billion from last Q3 last year, while profit tumbled by 42 percent. The Japanese company directed the blame toward the "negative impact of economic deterioration" in Europe and emerging markets like China, as well as the strong yen (again). DSLR sales fell over last year, with Canon mentioning that its launch of new models like the EOS 5D Mark III didn't help to shore its camera figures up. Other units within the company didn't fare much better, with printer sales falling and business-to-business numbers flatlining. The company doesn't see a bright fourth quarter either, and is projecting that sales will stay in lockstep with the sluggish economy, resulting in a 6 percent decline in operating profit for the year. It may not want to count so much on the new mirrorless offering pulling it out of the mud, though -- it got fairly mixed reviews.
Canon announces Q3 2012 results: operating profit down 42 percent to $908 million originally appeared on Engadget on Thu, 25 Oct 2012 07:01:00 EDT. Please see our terms for use of feeds.
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Olympus is reporting a $56.7 million loss for its first quarter of 2012. While its coveted medical imaging arm remains profitable, its life-science and industrial unit suffered thanks to corporate belt-tightening. Unsurprisingly, its low-end compact camera market is shrinking, but sales of its OM-D E-M5 ILC increased by 50 percent, offsetting some of the losses and reducing operating losses from $89 million last quarter to $19 million in this one. Like many of its Japanese rivals, it's also found a strong yen has stifled its return to productivity, a trend that isn't likely to change soon.
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Olympus hangs $57 million loss on austerity, strong yen and declining compact camera market originally appeared on Engadget on Thu, 09 Aug 2012 05:16:00 EDT. Please see our terms for use of feeds.
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Nikon's odd financial calendar means that the camera maker is announcing its first quarter results for 2013. The confusingly-dated documents show that it isn't having the best Spring / Summer, since while it pulled in a net profit of $201 million, that figure is down nearly 50 percent on the $392 million it made in the same period last year. It sold a record number of interchangeable-lens cameras, lenses and a good number of compact cameras, but that was offset against the high cost of the yen.
Its other businesses, Precision Equipment and Instruments both suffered thanks to Government spending cuts, a "harsh business climate" and the now age-old problem of the high exchange rate. It's expecting the situation to remain the same in the next three months, with booming camera sales weight against losses in its other businesses -- with a projected profit of $143 million anticipated in Q3.
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Nikon makes $201 million quarterly profit, nearly 50 percent drop from last year, blames strong yen originally appeared on Engadget on Wed, 08 Aug 2012 06:47:00 EDT. Please see our terms for use of feeds.
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Canon's financial results for Q2 2012 reveal an operating profit 18 percent greater than the results from the same quarter last year. However, net income has dropped from 61.5 billion yen to 51.7 billion yen since last quarter. The company saw demand grow for its DSLRs, both professional and entry-level, while sales of point-and-shoots continued to contract. The ever-increasing value of the yen -- and weakened demand in Europe -- has put a dent in its important overseas sales -- and profits. Perhaps the promise of Canon's first mirrorless ILC later this year will be enough get wallets out in the euro zone.
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Canon reports higher profits, lower net income in Q2, points finger at pricey yen originally appeared on Engadget on Wed, 25 Jul 2012 03:12:00 EDT. Please see our terms for use of feeds.
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Canon has announced that it'll ditch human production line employees and rely entirely on robots to build its cameras. Several Japanese companies have felt the pinch thanks to the soaring value of the yen and have acted quickly to move production overseas, but Canon has resisted doing the same. Company spokesperson Jan Misumi has said that the move won't cause job losses as those employees will be moved into other parts of the organization once the switchover has been completed -- which could be as early as 2015. Now we just need to check our diaries as to when the Robopocalypse is due to begin.
Canon ditching humans, cameras hand-made by robots by 2015 originally appeared on Engadget on Mon, 14 May 2012 14:57:00 EDT. Please see our terms for use of feeds.
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Sharp has reported an extraordinary loss of 117.1 billion yen ($1.4 billion) for the financial year ending March 2012. The company has cited restructuring costs and inventory losses as the causes for the write-down, but also projected that its TV business would lose a further 18.7 percent of its projected sales in the current year. The company has decided to convert some of its big-screen LCD production lines into mobile LCDs as it tries to reassert its dwindling display business. It's yet more bad news after the company sold part of its LCD manufacturing business to Hon Hai, Sony withdrew from a joint venture and refused to deal with Sharp in the future, plus an 86 percent collapse in profits.
Continue reading Sharp posts $1.4 billion extraordinary loss, refocuses on mobile displays
Sharp posts $1.4 billion extraordinary loss, refocuses on mobile displays originally appeared on Engadget on Fri, 27 Apr 2012 04:20:00 EDT. Please see our terms for use of feeds.
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