Canon Kills Its “Imaging Division”, Creates “Optical Industry” With Additional Products Instead

Some radical changes undergoing Canon as a whole have been reported at the latest Company Strategy Conference. Thanks to EdinaMN for the tip.

Mr. Fujio Mitarai’s speech at the conference highlights the difficulties Canon has to face as a global company. What Mr. Mitarai outlines is a corporate reorganization plan which defines four new business domains where Canon is going to be active: printing, industrial equipment, medical, and optical industry. Canon calls this process changing from a product group to a industry group business structure (see image on top). In Mr. Mitarai’s words:

The newborn “Optical Industry” involves three main areas, the existing camera business, network cameras, and other optical devices like Canon’s specialized cameras for scientific applications or mixed reality technology.

It’s the third business area in the image above that seems to hold most of Canon’s hopes for the future:

Canon clearly states that the “camera market has contracted significantly due to advances made in smartphone image capture functions” and that the “broader optical industry is a promising growth area for imaging devices that comprise mainly lenses and sensors“. The image below gives ore insights.

All in all, Canon seems to be optimistic about the future. All material related to Canon’s Company Strategic Conference, including Mr. Fujio Mitarai’s speech, can be found here and are available for download.