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 quarterâ€™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 Canonâ€™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.
Olympusâ€™ numbers are also rosy: reports say the companyâ€™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).