37
+6%
11,702 $m

Canon is a brand surrounded by challenges: the shrinking of the digital camera market due to the accelerating use of mobile devices as a primary camera; fierce competition from Nikon, Sony, Xerox and other big brands across business segments; changing customer preferences for greater connectivity and for even greater cost reductions; and a sluggish recovery of the global economy. 

Despite such challenges, Canon remains committed to its Excellent Global Corporation Plan, and is implementing a variety of initiatives that show the company is aware of the risks and challenges it faces, and is adapting for the future. For example, in the smartphone-usurped digital camera field, Canon is now focusing on advanced amateur users and professionals-those dissatisfied with the level of quality attainable in a smartphone snapshot. Despite a shrinking market, the company has maintained its #1 global market share in digital cameras. Canon is also increasing the WiFi connectivity and cloud-compatibility of its camera and office products, focusing more on its B2B businesses, and adapting product features and solutions to better satisfy consumer demand. Furthermore, through the launch of recent advertising campaigns like "Scenes of Life," shot entirely with Canon cameras and lenses, the company has demonstrated a commitment to promoting awareness, improving understanding and creating affinity within key markets and sectors.

Canon believes that "change is progress and transformation is advancement." Only time will tell whether Canon will be able to deliver on that belief, and whether the company can ride the wave of economic recovery and keep the brand on a path of increased growth. 

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