Unbelievable fall in Camera Sales as per CIPA Report: Effect of COVID 19

News Desk, Time for a DSLR / 25 Apr 2020: COVID 19, global pandemic has affected every sector in the economy and yes, even the technology sector has been affected badly. Hence, even the  fall in camera sales numbers has been seen. In fact, the numbers for March are quite demotivating. As per the latest CIPA report, the camera shipments in March were hugely affected mainly because of Corona Virus spread.

Now, since there is lock down situation, the downfall continues and it seems it shall continue even further. It seems that this situation will continue for a few more months and so stay ready to have a look at the falling graph.

If you want to have a look at the quarterly results that came yesterday from Canon then you can have a look at this link, Canon Quarterly Results. This report shows that how COVID 19 has changed the numbers dramatically. In fact, industry experts’ estimate that this is just the beginning and worst is yet to come. 

Fall in Camera Sales as per CIPA Report

Canon also deals in printers and imaging systems. Due to spike in work from home situations, the sales of inkjet printers had increased for the company. But there was an overall decline in the business because of the fall in camera sales. Since cameras being the snobbish item, Canon agrees that it would surely be the last item to recover. 

However, the company feels that every cloud has a silver lining. After this pandemic ends and the financial turmoil comes to a stop then there will be ray of hope for almost every sector. Canon feels that the future will demand lot of supply from the company’s side and the company will come back to the original sales numbers. If longer term perspective is considered then there’s a lot that can happen on the positive note for the future.

In fact, Canon has already announced the launch of new Canon EOS R5 somewhere in May and also there’s new kid on the block Canon EOS R6. Also, nine new RF lenses might be introduced soon! Company is now concentrating on compact and budget friendly cameras which would suit the pockets of the consumers too!

Read the complete financial report of Canon over company’s official link: Canon Quarterly Results