Canon will focus on Digital SLR Cameras

I just love the Canon 20D. Via Reuters

The growth in Digital Cameras sales is slowing, so Canon is going to focus on the high-end segment where their technology will allow them to sell for higher prices and margins.

“Surging demand for digital compact cameras in Europe is slowing, and Japan’s Canon Inc. said on Friday it was focusing on more expensive cameras, printers, and even flat screen televisions. Last year saw digital camera sales in Western Europe increase 58 percent to just over 25 million units, but while that growth may slow to 25 to 30 percent amid continued price pressure, the market for more advanced digital Single Lens Reflex (SLR) cameras will double by the end of 2006.” (Mogens Jensen, European chief of Consumer Imaging, Canon)