Profits at Canon’s camera division were down 93.8% year on year in Q2 2020 in part due to COVID-19. The 3 months ending June saw lockdowns and a global pandemic take hold across the world. The loss of life and livelihood is the important and most sad aspect of 2020, indeed the saddest time in my lifetime. My heart goes out to anyone who is mourning the loss of a loved one or suffering from a lack of work and derailed plans. In this article though I’d like to focus on Canon’s dire financial results from Q2 and the impact of coronavirus on the camera industry, and how it can respond. This proud industry, as well as the photography, video and filmmaking sector has been particularly badly hit by COVID-19.
I would also like to address Canon’s two most important camera releases of the decade, the EOS R5 and R6. After a faltering launch, with my sources saying that new shipments are delayed until November, only a very small number of cameras are currently with distributors and retailers. This first batch was shipped before the full furore over overheating, which revealed the EOS R5 and R6 to be basically defective products that don’t do as claimed by Canon’s advertising. Now, businesses and viruses are one thing but we need to talk about ethics and morality too. Can Canon executives look in the mirror this weekend and honestly be satisfied to put these two defective cameras out into the world without any adjustments or hardware changes?
Read moreSevere Canon financials – profits drop 94% – And EOS R5 recall would be the ETHICAL thing to do