Canon has released its earning results for the second quarter of 2018. According to Reuters, the company has reduced its overall profit outlook for the full year to ¥378.5 billion ($3.39 billion) from ¥404 billion ($3.62 billion), citing lower-than-expected demand for OLED panel manufacturing equipment. Canon CFO Toshizo Tanaka commented:
“Display manufacturers have postponed their investment in OLED screens as the OLED investment boom has temporarily slowed down”.
OLED panel makers are believed to be hesitating about investing further in production at this time, following slow sales of high-end OLED smartphones.
Last month, Apple told its suppliers that it will produce 20% fewer iPhone units this year, due to disappointing sales of the iPhone X. Nevertheless, the company’s trio of 2018 iPhones includes two new OLED models.