Q3 Reports Big Money for Canon, Nikon & Olympus

Money-Making Cameras

The numbers have started to come in and they are showing big financial gains for top camera makers Canon, Nikon and Olympus, thanks mainly to this quarter’s better-than-expected sales of digital cameras.

Canon posted a 15 percent profit increase in Q3 of 2006: $976 million net profit for July-September, coming mainly from strong sales of digital cameras and laser printers. In the same period last year Canon’s net income was $849 million.

Nikon also today reported that its earnings were more than 50% over what the company expected from January 1-Sept. 30. The company had forecast a 15 billion yen ($125.9 million) net profit, but reports an estimated profit of 23 billion yen ($193 million), 53% higher than forecast. The company says that concentrating only on digital cameras helped boost profits.

Olympus’ numbers are also rosy: reports say the company’s first-half operating profit is 38 billion yen ($319.3 million), which would beat the company’s estimate by 12 billion yen ($100 million).

[Via: AdoramaNews]

Published by Chris Malinao

Chris teaches Lightroom as workflow software to photography students at the FPPF, Federation of Philippine Photographers Foundation. He also teaches smartphone photography.