Canon shares fall on report that company plans to cut earnings guidance

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Shares of Canon fell 2.5% on Wednesday after revelations that the company is expected to downgrade its earnings guidance for 2019, according to a new report by Nikkei.

Nikkei reported that Canon’s operating profit is likely to fall short of the current forecast by about 50 billion yen ($447 million) as consumers opt for smartphone cameras over digital cameras.

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