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Canon sees first drop in profits in nine years, Nikon cuts profit forecast  
Thursday, October 30, 2008 | by Rob Galbraith
A stronger yen and slower sales of cameras and copiers has led Canon Inc. to predict its first drop in annual profit levels in nine years. Nikon Corp. has lowered its profit forecast as well, also because of the increasing value of the yen against key currencies, plus lower sales of stepper equipment.

Nikon's digital camera sales remain healthy, and the company has bumped up its sales targets for both digital SLR and compact models.

More information is in the following Reuters articles:
Sony is among the other Japanese digital camera makers reporting gloomier financial results, as a result of the yen's exchange rate and reduced demand for both digital cameras and flat screen televisions.
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