After hearing about weak financial performances from several IT companies, some of them overwhelmingly so, the idea of Canon having troubles of its own is easy enough to swallow.Based in Japan, the multinational corporation that deals in cameras, camcorders, photocopiers, steppers and computer printers has had a rough third quarter.
The July-September period was one of weak camera and printer sales, and while the company still made a profit, it was very low compared to the sum accumulated during the same period of the previous year.
The same goes for overall revenue, although the percentage of decline there was a bit less painful.
Basically, profits plummeted by 42% on-year, while revenue fell 13%. All the information can be found here.
Canon expects sales to be weak in the fourth quarter as well (October-December 2012).