Casio

Performance indicators

2018:2% drop in revenue to 314.8 billion yen; leaving the camera market

Japanese electronics manufacturer Casio is leaving the losing digital compact camera market due to low demand for these products due to the spread of smartphones with advanced photo capabilities. Casio announced its decision on May 9, 2018, simultaneously with the publication of the report for the fiscal year that expired for the company on March 31.

Casio financials

At the end of fiscal 2018, the supply of Casio digital cameras, including Exilim and other models, decreased to 550 thousand units, which is 200 thousand less than the level planned by the company. In addition, the current annual sales of Casio cameras amounted to a tenth of the peak values ​ ​ of 2007, Kyodo reports.^[1]

The fall in demand for digital compacts amid the spread of smartphones with built-in cameras turned into a 34% reduction in revenue for the Digital Camera division, to 12.3 billion yen ($112.6 million at the exchange rate as of May 11, 2018), as well as losses of 4.9 billion yen ($44.8 million).

Casio financials

As a result, it was decided to abandon this area, but Casio President Kazuo Kashio said that the company intends to use its technologies in the field of digital cameras in other areas related to medicine and sports.

Despite the fact that the company suffered losses in the production of cameras, projectors and musical instruments, in general, over the past year, Casio's net profit increased by 6%, to 19.6 billion yen ($179.4 million). At the same time, revenue decreased by 2% and amounted to 314.8 billion yen ($2.88 billion).^[2]

History

2024: Ransomware Virus Attack

In October 2024, Casio admitted to attacking its IT infrastructure with a ransomware virus. 205GB of employee, customer and partner data stolen.

Casio did not say who was behind the attack. However, the hacker community Underground took responsibility for the hack, the portal writes, TechCrunch referring to the group's statement on one of the forums.

A hacker group has published examples of stolen data. It is not known if Casio received a buyout demand from Underground.

1946-1995

Casio traces its history back to 1946, when founder Tadao Kashio opened a workshop to produce microscope parts and gearboxes. In 1957, Casio Computer was registered, and then it introduced the world's first all-electric compact calculator, and in 1965, the first desktop electronic calculator with memory.

In 1974, the company released the first watch called Casiotron, in 1980 - the first musical instrument of its own production - the Casiotone digital piano, and in 1983 - the first G-Shock shockwatch. In 1995, Casio became a pioneer in another area, presenting the world's first digital camera with a liquid crystal display.

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