TOKYO Jan 30 Japan's Canon Inc posted
a 17.9 percent drop in quarterly operating profit on Wednesday,
hurt by a strong yen and weaker demand for compact cameras as
consumers switched to smartphones.
The camera- and printer-maker's operating profit for
October-December fell to 77.7 billion yen ($857.1 million) from
94.6 billion yen a year ago, undershooting the consensus
estimate of 100.9 billion yen from analysts surveyed by Thomson
For the business year to December, the company forecast
operating profit to rise 26.6 percent to 410 billion yen,
compared with the average expectation of a 443.3 billion yen
profit from 21 analysts, according to Thomson Reuters Starmine.
($1 = 90.6500 Japanese yen)
(Reporting by Sophie Knight; Editing by Edmund Klamann)