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Canon announces decline in printer sales

October 26, 2012

13 percent fall announced, although OEM states that multifunction devices continue to grow steadily.

Canon has announced a 13 percent fall in printer sales, stating that demand for laser printers has evened off due to the global economic downturn, especially in Europe, reports Visions & Trends.

However the OEM has noted that the growth in demand for multifunction devices (MFDs) has remained steady in Japan.

Canon has also lamented a decline in camera sales, owing to the popularity of smartphones. CFO Toshizo Tanaka commented: “We lowered our camera sales projection because of slower economic growth and an increasing use of smartphones that’s eroding demand.”

Subsequently, the OEM has reduced its profit forecast by 6.4 percent to ¥234 billion ($2.9 billion/€2.2 billion), citing economic turbulence in Europe and diminishing demand in emerging markets.

Xerox and Lexmark have recently released their Q3 2012 results, revealing downbeat results and declines as both pledge a turnaround for 2013.

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