Electronics maker Canon sees net profit in October-December quarter fall 12.4 percent

TOKYO -- Japanese electronics maker Canon Inc. says its net profit in the October-December quarter declined due to falling prices for office equipment and digital cameras. Canon's net profit stood at 54 billion yen (US$657 million), down 12.4 percent from the same period in 2009. But quarterly sales rose 11.9 percent year-on-year to 1.07 trillion yen thanks to steady global demand for laser printers and high-end digital cameras such as single-lens reflex cameras. For the 2010 calendar year, Canon's net profit surged 87.3 percent to 246.6 billion yen with revenue up 15.5 percent at 3.7 trillion yen. Subscribe to