Canon, the Japanese camera giant, announced on July 17 the release of its top-of-the-line mirrorless camera, the “EOS R1”, in November. This is Canon’s first flagship mirrorless camera. Among its rivals, Nikon and Sony, Canon was the last to introduce a high-end mirrorless camera. The EOS R1 boasts an advanced object tracking feature that accurately captures subjects even when obscured by obstacles. Canon aims to leverage this capability to compete with emerging players in the professional camera market, retain its loyal professional user base, and solidify its dominant position in the camera market.
Tsuyoshi Tokura, Canon’s vice president in charge of camera operations, highlighted the EOS R1’s exceptional performance, claiming it to be a 120-point camera that professional photographers can trust. The camera’s standout feature is its autofocus function, which enables it to accurately capture athletes’ expressions even amidst mesh obstacles during volleyball matches. The camera continuously tracks the athlete being photographed, even when other players obscure the view.
The EOS R1 is scheduled to launch in November, with a monthly production capacity of 3,700 units. Its price in Japan is set at 1.089 million yen (approximately RMB 50,600), exceeding the 800,000 to 900,000 yen (approximately RMB 37,100 to 41,800 yuan) price range of Sony and Nikon’s flagship models.
Canon assigns the number “1” to its products that represent the pinnacle of performance and reliability within their respective categories. Since entering the full-frame mirrorless camera market in 2018, Canon has not introduced a “1” model. In contrast, Canon’s competitors, Nikon and Sony, had unveiled their flagship models in 2021, making Canon the last major camera company to release a flagship model.
Canon Vice President Tsuyoshi Tokura identified Sony as “The biggest competitor”. By introducing a flagship camera, Canon aims to fend off Sony’s relentless pursuit. According to data from research firm Techno System Research, Canon, which holds the top spot in global mirrorless camera supply, commanded 41% of the market share in 2023, while Sony, ranked second, accounted for 32%.
Sony has been utilizing the latest sensor technology within its group to enhance camera performance. Their latest flagship model, the α9III, captured the “miraculous moment” following the shooting of former US President Trump.
At the Paris Olympics, which commences on July 26, Canon will provide more than 100 flagship cameras to professional photographers free of charge. The Olympic stage undoubtedly serves as the premier arena for cameras.
Canon has adopted a comprehensive product line strategy, catering to users from beginners to professionals. The flagship model, positioned at the apex of the pyramid, represents the brand’s face. To maintain its leadership in the camera market, the professional user market is paramount. Will Canon’s flagship camera, capturing images at the Paris Olympics, become a legacy for future generations? This flagship camera will serve as a litmus test for Canon’s future competitiveness.
Nihon Keizai Shimbun (Chinese version: Nikkei Chinese website) Yamada Kohei, Sato Ryo
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Canon Unveils Its Flagship Mirrorless Camera EOS R1, Aiming to Reassert Dominance
In a significant move to solidify its position in the competitive mirrorless camera market, Canon has announced the release of its top-of-the-line flagship camera, the EOS R1, set to hit the market in November 2024. This marks Canon’s first foray into the flagship mirrorless segment, making it the last major camera manufacturer to launch such a model following competitors Nikon and Sony.
EOS R1: A Flagship Built for Professionals
Canon has positioned the EOS R1 as a camera designed to meet the demanding needs of professional photographers, boasting cutting-edge technology and robust features. The camera’s standout feature is its advanced autofocus system, which Canon claims can track objects with exceptional accuracy, even when obscured by obstacles. This is particularly significant for photographers covering fast-paced events like sports, where subjects might be partially blocked by other athletes or equipment.
Tsuyoshi Tokura, Canon’s vice president in charge of camera business, emphasized the EOS R1’s exceptional performance and capabilities, stating, “The EOS R1 is equipped with Canon’s strongest performance and is a 120-point camera that professional photographers can use with confidence.”
A Pricey Proposition: EOS R1 Challenges Sony and Nikon
The EOS R1 will be available in November with a monthly production of 3,700 units. In Japan, the camera comes at a hefty price tag of 1.089 million yen (approximately RMB 50,600), exceeding the price range of Sony and Nikon’s flagship models, which typically hover between 800,000 to 900,000 yen (approximately RMB 37,100 to 41,800 yuan).
Canon’s decision to bestow the number “1” on its flagship model signifies its commitment to delivering the pinnacle of performance and reliability. The company’s competitors, Nikon and Sony, launched their respective flagship models in 2021, leaving Canon as the last major camera manufacturer to enter this segment. This delay has created a sense of urgency for Canon to reclaim its position as a leader in professional photography equipment.
Competing Against Sony: A Battle for Market Dominance
Sony has emerged as a formidable force in the professional camera market, leveraging its advanced sensor technology to create cameras that deliver exceptional image quality and performance. Sony’s flagship model, the α9III, has earned recognition for its ability to capture “miraculous moments,” exemplified by its role in capturing the photo of former US President Trump following a shooting incident.
Canon’s vice president, Tsuyoshi Tokura, acknowledged Sony as “The biggest competitor,” highlighting the fierce rivalry between the two companies. By launching the EOS R1, Canon hopes to regain its edge and prevent Sony from further dominating the market. Market research company Techno System Research reveals that Canon holds the leading position in the global mirrorless camera market with a 41% share in 2023, followed by Sony with 32%.
The Paris Olympics: A Showcase for Canon’s Flagship Camera
The upcoming Paris Olympics presents a unique opportunity for Canon to showcase the capabilities of its flagship camera. Canon will be providing over 100 EOS R1 cameras to professional photographers covering the Games, providing them with the tools needed to capture the defining moments of the event. The Olympic stage serves as a high-profile platform for camera manufacturers, allowing them to demonstrate their technology’s prowess and reach a global audience.
A Full Product Line Strategy: Maintaining Leadership in a Competitive Market
Canon’s approach to the market is characterized by a comprehensive product line strategy, catering to photographers of all levels, from beginners to professionals. The flagship model sits at the pinnacle of this strategy, representing the brand’s commitment to excellence and innovation. Maintaining its leadership in the camera market requires a strong presence in the professional user segment, where photographers rely on the latest technology to create high-quality images and videos.
The success of the EOS R1 will be a crucial factor in defining Canon’s future competitiveness. Its performance at the Paris Olympics and its reception among professional photographers will be closely monitored as indicators of the camera’s potential and Canon’s ability to stay ahead in a rapidly evolving market.
