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February 12, 2007 – Manufacturer giants Nikon Corp. and Canon Inc. reported increased net sales and income in the fourth quarter of 2006. Historic competitors, the two companies both reported strong sales in the digital camera market.
Nikon reported that net sales totaled 611.6 billion yen ($5.02 billion USD) this past quarter, up 14 percent from 533.79 billion yen ($4.39 billion) year-over-year. Nikon reported net income increases at 46.2 billion yen ($379 million), up a stunning 93.7 percent from last year’s 23.8 billion yen ($195 million).
Nikon expects that its digital SLR camera sales, including the D80 and D40 units that were released in 2006, will surpass previous estimates. With 240,000 DSLR units sold in the third quarter, the company increased its forecasts for DSLR units sales to 2.05 million for this year. Nikon sold 2.04 million compact digital cameras this past quarter. The company estimates that its compact digital camera sales for 2007 will remain as previously forecasted at 6.5 million units.
Even though Nikon bumped up forecasts for its DSLR sales in 2007, Canon maintains the number one spot for digital camera sales, according to Reuters. Canon reported a 10 percent increase in net sales at 4.156 trillion yen ($34.1 billion), up from 3.754 trillion yen ($30.8 billion) year-over-year. Canon also reported an increased net income of 455.3 billion yen ($3.7 billion), up 18.5 percent from 384 billion yen ($3.15 billion) this time last year.
As part of their "Excellent Global Corporation" goals, Canon intends to stay number one. Last year, the company released consumer DSLRs, the EOS 30D and Digital Rebel XTi. Canon reported that the company plans to expand their DSLR market share with a "strong product lineup," that is supported by Canon’s CMOS sensors and DIGIC processors.
Canon also plans to provide competitive prices for their compact digital cameras, according to the release.
If digital cameras weren’t enough, Canon also wants to take the number one spot in the at-home printing market, stated the release. A position that is currently occupied by printer manufacturer HP.