World's largest maker of digital cameras, Canon Inc. said its second quarter profits tumbled 86 percent, hit by the sluggish sales of digital cameras, printers and copy machines.
However, Canon Inc. lifted it yearly forecast by 6 percent. The camera and the office equipment maker hiked its operating profit forecast from 180 billion yen to 190 billion yen, for the complete year to Dec.
Though the hiked forecast still remained 62 percent below last year's figures.
Canon, rival of Ricoh Co and Xerox Corp left its whole-year's net profit forecast untouched at 110 billion yen, much down from last year's figures.
Canon reported net profit at 15.6 billion yen for the quarter ended June 30 as compared with 107.8 billion yen for the same period in the previous year.
As far as returns are concerned, they fell to 793.8 billion yen, down 28 percent from previous year.
A stronger yen also played a vital role in bring down company's oversees earnings.