Canon reports surprising growth in sales and profit

For the first time in four years, Canon has reported growth in both sales and profit.

For the year ending 31 December 2017, the company revealed sales rose almost 20% (19.9%) to the equivalent of $37.5 (¥4 trillion). Operating profit was far higher, up 44.8% to ¥331.5 billion.

Canon is defying the odds – odds which suggest print hardware is in decline as offices become increasingly paperless – and has now exceeded Xerox in sales recovery, thanks in part to its line of cameras and camera accessories.

Both Canon’s Office category and Imaging Systems category have seen seriously improved sales, up 30.4% and 9.7% respectively. Laser printer sales grew 5.8%, while inkjet printers increased more modestly by 1.4%.