Canon to increase camera prices due to rising memory chip costs

Canon has announced plans to raise prices for its imaging products, including cameras and lenses, starting next year to offset rising costs for memory chips and other electronic components. In a document for investors following its third-quarter results, the company stated it no longer expects memory and raw material prices to decrease in 2027.

The company reported that higher memory costs and geopolitical tensions in the Middle East have already reduced the imaging division's profit margin by approximately five percentage points this year. To mitigate future risks, Canon is building above-average inventory levels to secure scarce components for 2027.

While specific products and price increments have not been disclosed, Canon noted it will weigh the impact of price increases on sales volume against the need for profitability. The shortage of memory chips is partly attributed to increased demand from data centers supporting artificial intelligence.