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Canon raises annual profit forecast on demand for OLED kit, weaker yen
October 24, 2017 / 6:09 AM / 25 days ago

Canon raises annual profit forecast on demand for OLED kit, weaker yen

TOKYO, Oct 24 (Reuters) - Japan’s Canon Inc raised its annual operating profit forecast on Tuesday, its third upward revision this year, on the back of increased demand for organic light-emitting diode (OLED) screen production equipment and a weaker yen.

Canon, which also makes copiers, cameras and printers, forecast operating profit of 350 billion yen ($3.08 billion )for the year through December, up from the 330 billion yen estimated three months prior.

That compared with the 330.59 billion yen average of 21 analyst estimates in a poll by Thomson Reuters I/B/E/S.

$1 = 113.5000 yen Reporting by Thomas Wilson; Editing by Christopher Cushing

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