Earlier this month, Canon executives met to discuss the company’s past and future at the 2023 Corporate Strategy Conference. The biggest takeaway for camera users? Canon’s performance in the market has been very solid, and the company will continue to develop its digital imaging technology over the next handful of years – particularly its EOS R system, which has been highly successful among consumers and professionals alike.
While you can access the original materials on Canon’s website, here are the key takeaways:
- Canon saw “strong sales of new products,” indicating that the “camera business is supporting earnings as a mainstay of Imaging.” While I doubt anyone expects Canon to fold up its camera division anytime soon, it’s nice to know that the latest cameras have been performing well. After all, the more successful Canon’s mirrorless system becomes, the more likely it is that the company will invest in further research and camera development.
- Canon’s Imaging Group increased profitability in 2022 compared to 2021 (from 12% to 15.8%), indicating a strong interest in Canon products like the EOS R7 and EOS R10, Canon’s first APS-C RF-mount models.
- Canon currently holds the leading market share in interchangeable lens cameras, and the company expects to remain on top through 2023.
- Video continues to be a key variable; Canon notes that the number of “video creators, media users, and SNS users…is thick and growing.” Therefore, the company will “expand the scale of the R system by including functions and performance that respond to user requests not only for still images but also for videos.”
- While not pertinent to most photographers and videographers, Canon is also looking to develop EOS VR systems in response to “the world of imaging…changing from 2D to 3D to XR [extended reality].”
Happily – for Canon mirrorless users, anyway – the Canon presentation also indicates an interest in “‘enhancing the EOS R system.’” What does this mean? More cameras, more lenses, and more features!
You can expect the company to release plenty of excellent RF-mount products over the next couple of years, including updates for higher-end camera lines, additional APS-C and hobbyist cameras, and a variety of lenses for professionals and amateurs. While nothing is confirmed, be sure to keep an eye out for the EOS R5 Mark II, the EOS R1, and the EOS R7C.
Bottom line: It’s a good time to be a Canon user!
Now over to you:
What do you think of Canon’s success and future plans? Do you have any predictions (or hopes) for upcoming products? Share your thoughts in the comments below!