Canon says sales in China down more than 30 percent in 2012
TOKYO (Reuters) - Canon Inc (7751.T) said on Wednesday that its sales in China fell more than 30 percent in the year to December 2012, more than it had expected, due to a slowdown in that country and a territorial dispute between Tokyo and Beijing.
Canon forecast a 26.6 percent pickup in operating profit in 2013 as it cuts costs and gets a boost to revenues from a weaker yen, although demand for compact cameras is shrinking as consumers shift to smartphones.
(Reporting by Tim Kelly; Editing by Edmund Klamann)
- Israel holds off on escalating Gaza barrage; West wants truce |
- Russia warns Ukraine after shell crosses border |
- Three dead, two wounded in Pasadena, California shootings
- As some high-risk assets take a hit, investors fear worse is to come
- Heavy fighting breaks out near Libya's Tripoli airport, seven dead