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Canon says sales in China down more than 30 pct in 2012
January 30, 2013 / 6:40 AM / 5 years ago

Canon says sales in China down more than 30 pct in 2012

TOKYO, Jan 30 (Reuters) - Canon Inc 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)

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