Canon is looking forward to another record year for its global business, with profits expected to rise 8.2% this year on robust sales of digital cameras and color copiers. But because of a strong yen, that may not translate to a spectacular earnings growth.
Canon is seeing hefty returns as it dominates the market in digital cameras and color office machines, and like fellow exporters Toyota and Nintendo, its overseas profits were boosted last year by a weaker yen. Not so this year, with the yen showing a stronger stance against other currencies.
But the good business environment for Canon wonâ€™t change, according to Canon finance executive Toshizo Tanaka. For 2007, Canon expects its digital camera sales to rise 14 percent to 24 million units, which includes a 17 percent rise in digital single-lens reflex (DSLR) models to 3.0 million units.
[Source: Reuters via MSN.com]