Recession Affecting Camera Manufacturers
I recently came across to some worrying news.
The biggest camera manufacturer, Canon, has reported an 81% downfall of their quarterly profits, due to the economic recession and low demand for their products. From what Canon’s Managing Director, Masahiro, said: “A substantial recovery in the economy is unlikely in 2009. Our operating environment will be even harder this year than it was last year”, the situation doesn’t look too good. And from what I read in on Reuters, Canon profit stumble predicts further slide.
Also Sony has even bigger losses in profit coming close to a staggering 95% drop, in this fourth quarter. Sony said its net profit shriveled to 10.4 billion yen ($115.6 million) in the third quarter from 200.2 billion yen a year earlier. You can read more about this on The Associated Press.
Although everyone started to feel the economic crisis, it seams that in stead of things getting better, are getting worse.
