Canon released the financial report of its profit for Q1 2016, which showed the downfall of 39% in operating profits, which is definitely shocking information for Canon who is the world’s biggest manufacturer of printers and cameras.
The reason behind such huge margin in its fall in profit is due to the less demand of office equipment and also supported by the lesser sale of its compact digital camera globally.
Since Canon has targeted its full-year operating profit of 300 billion yen, which will be lower than its previous expected target of 360 billion yen.
To make more profits it has taken decision to buy Toshiba Corp’s medical equipment unit for 665.5 billion yen last month, which was followed by the deal purchase 85 percent of Swedish video surveillance firm Axis AB.
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