Canon is going on the offensive on its mirrorless releases to push for a 50% increase in interchangeable lens camera market share.
Following the recent launch of the new entry-level Rebel T7 DSLR and EOS M50 mirrorless camera, Canon has been making rounds again with tidbits from its business plans. Through a recent tip to CanonWatch blog, we learned that the photography giant is not only doing well, but also plans of expanding its share in the interchangeable lens camera market by going on the offensive with their mirrorless camera sales.
The tip was lifted from Canon’s recently uploaded documents from its Corporate Strategy Conference. CEO Fujio Mitarai stressed the company’s plans in his statement on reinforcing the profitability of Canon’s existing businesses, beginning with the launch of “competitive new products” this year.
“Within existing businesses, there are market areas that are growing, such as color devices in MFDs and laser printers, and mirrorless in cameras. In these segments, by launching differentiated products that only we can provide, we will stimulate the market, grow our sales, and secure additional market share. For example, in our core camera business, in addition to our overwhelming share of the DSLR market, we will go on the offensive and work to expand our sales in the mirrorless camera market, which is exhibiting remarkable growth. This will allow us to reach our goal of 50% market share of the entire interchangeable-lens camera market.”
CanonWatch has stressed the clear direction for the camera company, a move that is backed by an earlier Nikkei Asian Review report regarding Canon’s future plans especially for the mirrorless market. While initially reluctant to enter the mirrorless playing field over concerns that it will cannibalize SLR sales, the company eventually released the M50. Canon Marketing Japan President Masahiro Sakata positioned it as a “stratetegic model” for mirrorless cameras.