Canon Stock Plummets

It seems like Canon are shooting themselves in the foot charging so much for their cameras. In Vietnam, they’re asking $5,000.00 for the EOS R5, $1,500.00 more than the Sony a7s III, universally regarded as the superior video camera. Social media is blowing up with reports of the Canons overheating and rumors of recalls and production delays are swirling around the Internet. At the same time, investor confidence in Canon is at an all-time low, while Sony is taking the slowdown in the world economy due to the pandemic in stride.

As dozens of YouTubers pronounced Sony’s a7s III the best mirrorless camera ever made, the reception of the R5 and R6 has been lukewarm and there have been curiously few independent reviews. Many Canon shooters were hugely disappointed after months of what they called ‘hype’ about the R5’s features. Online forums were active with Canon devotees feverishly contesting what they considered to be outrageous pricing, especially during a worldwide pandemic. Some complained they were being overcharged for video features they neither wanted nor asked for. Those who had placed preorders for the R5 and R6 are only now learning that there might be months-long delays in shipments. Conversely, hybrid video shooters, underwhelmed by rumors of Sony’s long-awaited update to the a7s II, were pleasantly surprised to find that Sony had seriously upped their game. Adding insult to injury was the announcement by the Associated Press that they will equip all visual journalists globally with Sony cameras & lenses. Meanwhile, not a few influencers let it be known that they were seriously considering selling off their Canon gear and switching brands. American business magazine Forbes is running with EOSHD’s scathing critique of Canon’s clumsy handling of the overheating fiasco, painting a picture of your $3,900.00 camera melting.

However, recording 8K in a small, hand-held device is pushing the envelope of what’s possible in the current generation of electronics. Processing over 30 million pixels 30 times every second requires pushing chips to work fast, and that means heat. Heat is one of the main killers of electronics.

With rival and technological juggernaut Sony determined to take the title of bestselling camera brand in the world, will the R5 and R6 be enough to pull Canon out of a steady downward slump? Unsurprisingly, in this day and age of rampant contempt for science and distrust of the media, many Canon diehards deny reports of overheating, claiming that reviewers aren’t testing properly and blaming Sony ‘shills’ for spreading misinformation in order to hurt sales of the latest cameras in Canon’s mirrorless lineup.

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