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Canon Australia Profits Fall Almost 90 Percent, Lays Off 10% of Staff

By Leujay Cruz on May 23rd 2014

When any company loses 90 percent of its profits, big changes need to be made. As reported by Photo Counter Australia and confirmed by a spokeswoman for Canon Australia, CA profits plummeted from $38.6 million in 2012 to $4.1 million in 2013. I did a double-take as well, but those numbers are real and confirmed.


Canon plans to outsource approximately 100 jobs currently in ‘administration and back-office support jobs.’ It’s reported that Canon’s public response states the restructuring will, “streamline its office operations to increase efficiencies and better serve its customers.” Most of the layoffs will come from the head office in North Ryde. Canon has roughly 1000 Australians employed at the facility, according to this ProPrint report.


The interesting part about the numbers is that it doesn’t seem to be the sale of goods that caused this massive drop. During a time when camera sales have been down across the board, revenue from Canon Australia was down from $722 million in 2012 to $670 million in 2013. The $52 million fall is more of a reflection of the digital compact market. After analyzing the numbers, further Sale of Goods only dropped less than $20 million, which reflects about 3 percent.


The curve ball in the data is that revenue, unrelated to sales of goods and services, dropped from $55 million in 2012 to just $23 million in 2013. In this section, a drop of around $30 million in “dividend income” from $44.4 million in 2012 down to 15.5 million in 2013. It can be assumed the Mothership in Japan could be contributing to this data, but the report does not further elaborate.

via Photo Counter / ProPrint

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Leujay is a full time wedding photographer with Lin & Jirsa Photography and a freelance runway fashion photographer. He currently lives in Palm Desert with his wife and two dogs. When he’s not enjoying quality family time he fancies himself as a work-in-progress world traveler.

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Q&A Discussions

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  1. Mr Bach

    No matter how expensive a Canon lens is, they all have a one-year warranty, which suggests their products are inferior, because nobody wants to guarantee poor quality.

    However, I sold my Canon lenses and bought Tamron, which has all-glass optics, a 6-year USA warranty, and for less money.

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  2. J.W.

    Please keep in mind that Canon has much more products than just the cameras and lenses. It would be good to analyze the details per segment before predicting the end of a whole company!

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  3. Mickey Jetpur

    It doesn’t take a rocket scientist to figure out why Canon sales have dropped. The lenses are way too expensive. The target market should not be professionals but the common person that buys the products. I bought the Canon 70D and am looking for add on lenses. I only wanted to buy Canon, but the prices are outrageous. So they come out with plastic mount lenses, which is disgraceful! So I checked around and I am going with Tamron. Better prices and the newer lenses are better.Check DxO Optics and canon don’t come close to Sigma and Tamron. In one category a canon $6000 lens came in lower than a Sigma lens that cost $800!! So take heed. Why lay off your workers when the problem is in management and CEO’s.

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    • Mr Bach

      Right on Mickey, that’s how I feel about it. Go Tamron!

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  4. Photo

    It should also be noted that the consolidated results remove inter company sales and even though the consolidated sales have decreased by 20k gross profit has increased by 20k which is a good thing.

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  5. Phil Wright

    It should be noted that this if for Canon Australia and not Canon international.

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    • Mickey Jetpur

      It’s just the start. Canon is overpriced, so is Nikon! Plastic lens doesn’t cut it.
      Tamron and Sigma have got better and the two giants cannot suck anymore from the monopoly, people are getting better service from Tamron and Sigma and don’t have to invest in a $3000 lens which according to DxO optics is inferior!,

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