EyeBrock wrote:
We all know that the currency markets are in turmoil, however, Canon have not made themselves look good (in my eyes at least) by inflicting a bit more pain in these uncertain times.
As the economy in Ontario grinds to a halt I have to second guess my decision to get the 5D2. I don't shoot for a living but I have a fair investment in decent Canon lenses which means I will stay with Canon.
I don't think it makes any of us 'hobo's' to balk at paying another 15% more than the price that was announced.
What this price increase has done is make me consider a 50D to replace my 20D instead of going FF, which I really wanted to do. Canon will still get my cash, just half as much.
There is a tipping point in all pricing. The extra $300 (which with taxes is really an extra $450) tips the 5D2 into 'overly expensive' for me.
We are allowed opinions are we not?...Show more →
So Canon should lose money on every sale it makes?
Does anyone really expect that this will be the only camera re-priced?
I've been saying for some time that there will be a shakeout in the digital camera industry, with Samsung, possibly Panasonic, and as a result, Olympus and Pentax possibly following.
Canon makes it's own fiscal decisions and I make mine, who's right or wrong? They jack up the prices for their own reasons and I buy a cheaper camera. Cause and effect.
In my business, global currencies fluctuations affecting revenue is just part of doing business globally. We don't go raising prices every time the exchange rate moves. You report it in your financial report as effects of changing currencies. You definitely do not cancel your customers order so that you can change your price because of currencies changes. You raise prices to the new orders, not to those already ordered. I think Canon is not doing itself a favor in this time of economic turmoil. They are just giving all their otherwise committed customers a chance for a second thought. I do hope that they are economically impacted by this bad decision.
wkhc168 wrote:
In my business, global currencies fluctuations affecting revenue is just part of doing business globally. We don't go raising prices every time the exchange rate moves. You report it in your financial report as effects of changing currencies. You definitely do not cancel your customers order so that you can change your price because of currencies changes. I think Canon is not doing itself a favor in this time of economic turmoil. They are just giving all their otherwise committed customers a chance for a second thought. I do hope that they are economically impacted but this bad decision.
I agree. I'm even thinking that my 20D will do me for another year. Another $450-$500 is just not a nice thought this close to Christmas. Bigger prezzys for my kids or forking over another chunk to Mr Canon? Mmmm........
wkhc168 wrote:
In my business, global currencies fluctuations affecting revenue is just part of doing business globally. We don't go raising prices every time the exchange rate moves. You report it in your financial report as effects of changing currencies. You definitely do not cancel your customers order so that you can change your price because of currencies changes. I think Canon is not doing itself a favor in this time of economic turmoil. They are just giving all their otherwise committed customers a chance for a second thought. I do hope that they are economically impacted but this bad decision.
As far as I know, the announcement of the 5D mk II only gave the price in US $ and Euros. It never said the Canadian price in CDN was going to be $2700. It would have been nice ... because we could have all gotten a whopper of a discount. I can't see what Canon did wrong .... the current Canadian price is roughly equal to the announced (actually a little lower) US price of $2700.
UCSB wrote:
As far as I know, the announcement of the 5D mk II only gave the price in US $ and Euros. It never said the Canadian price in CDN was going to be $2700. It would have been nice ... because we could have all gotten a whopper of a discount. I can't see what Canon did wrong .... the current Canadian price is roughly equal to the announced (actually a little lower) US price of $2700.
This was in the press release from Canon Canada :
Canadian Pricing and Availability
The Canon EOS 5D Mark II Digital SLR camera is compatible with Canon EF lenses and is scheduled for delivery by the end of November. The EOS 5D Mark II will be sold in a body-only configuration at an estimated retail price of $2,799.99. It will additionally be offered in a kit version with Canon’s EF 24-105mm f/4L IS USM zoom lens at an estimated retail price of $3,649.99. The accompanying Battery Grip BG-E6 and Wireless Transmitter WFT-E4A, will both be available by the end of November. The estimated retail price of the BG-E6 is $350.00, while the estimated retail price of the WFT-E4A is $1420.00."
They have since removed it from their website. I know they have used the word "estimated retail price" but that is what their retailers used for taking pre-orders.
wkhc168 wrote:
I have no problem for them to raise the price. I do not like the fact that they unilaterally canceled all pre-orders and expect everyone to pay up or get lost. If they knew that they won't ship for 2-3 months why did they announce a list price and start taking orders? When they did that, they are taking a risk of an unknown factor which is the value of the yen. I was asked to put down a non refundable deposit of $450 which is a commitment on my part. If I changed my mind not to buy it on my own terms I would have to give up my deposit. I think they should honor those who have paid a deposit and committed to buy. They can raise prices when the economics changed but not on the expense of those who are most loyal. ...Show more →
Canon never asked you to put down a non refundable deposit. This is a choice that you made which has absolutely nothing to do with them. The commitment is to the retailer, not to Canon. Obviously Canon could have done some sort of hedging to reduce their sensitivity to the Yen but these types of actions also come with a wealth of risks. The fact is that these types of things happen all the time and Canon is not obligated to take additional losses because of something that is completely out of their control.
If you feel that you have been cheated by Canon then perhaps you should look elsewhere. There are other options...
They aren't the only ones who are raising their prices either.
wkhc168 wrote:
In my business, global currencies fluctuations affecting revenue is just part of doing business globally. We don't go raising prices every time the exchange rate moves. You report it in your financial report as effects of changing currencies. You definitely do not cancel your customers order so that you can change your price because of currencies changes. You raise prices to the new orders, not to those already ordered. I think Canon is not doing itself a favor in this time of economic turmoil. They are just giving all their otherwise committed customers a chance for a second thought. I do hope that they are economically impacted by this bad decision....Show more →
Don't forget that it wasn't Canon taking those orders from users. It was the stores, who, possibly shouldn't have been taking them in the first place. When Canon upped their pricing, and possibly, cancelled their orders, it was up to them to decide how to treat their customers.
Currency rates have popped in a short time, but a good amount.
Claude Cormier wrote:
For your info, the Canadian dollar is down 16% against the USD since this summer. At some point in time in October, the CAD was down 22%.
So this increase looks justified to me.
That's the way I see it. When the exchange rate, which usually changes slowly, moves beyond 10%, or so, that's when companies move.
EyeBrock wrote:
I agree. I'm even thinking that my 20D will do me for another year. Another $450-$500 is just not a nice thought this close to Christmas. Bigger prezzys for my kids or forking over another chunk to Mr Canon? Mmmm........
That's a good decision for you. If you were a professional who felt that the new camera would make a difference in the business, it would be different.
davewolfs wrote:
Canon never asked you to put down a non refundable deposit. This is a choice that you made which has absolutely nothing to do with them. The commitment is to the retailer, not to Canon. Obviously Canon could have done some sort of hedging to reduce their sensitivity to the Yen but these types of actions also come with a wealth of risks. The fact is that these types of things happen all the time and Canon is not obligated to take additional losses because of something that is completely out of their control.
If you feel that you have been cheated by Canon then perhaps you should look elsewhere. There are other options...
They aren't the only ones who are raising their prices either.
Either way I'm not convinced that I should be happy about paying $450 more than a price announced 4 weeks ago.
At least NIKON are giving retailers until 12th November before a price rise.
Those 5D2's are in a shipping container somewhere between Japan and Vancouver as we speak, the prices didn’t rise midway in the Pacific. The increase should have been on the next batch.
Really I can't see why anybody is trying to defend Canon for jacking up the prices in Canada, especially posters from the US telling us we are whiners for complaining about this.
Are you trying to prove some point? We are not happy and I think those of us who have pre-ordered have a right to be annoyed.
Those of you in the States, you are alright Jack, why care about us? You obviously have no sympathy, why dispute our right to be annoyed at Canon? They have lost a lot of good will from Canon customers. You Yanks telling us we have nothing to complain about isn’t gonna put $450 back in my pocket.
EyeBrock wrote:
Either way I'm not convinced that I should be happy about paying $450 more than a price announced 4 weeks ago.
At least NIKON are giving retailers until 12th November before a price rise.
Those 5D2's are in a shipping container somewhere between Japan and Vancouver as we speak, the prices didn’t rise midway in the Pacific. The increase should have been on the next batch.
Really I can't see why anybody is trying to defend Canon for jacking up the prices in Canada, especially posters from the US telling us we are whiners for complaining about this.
Are you trying to prove some point? We are not happy and I think those of us who have pre-ordered have a right to be annoyed.
Those of you in the States, you are alright Jack, why care about us? You obviously have no sympathy, why dispute our right to be annoyed at Canon? They have lost a lot of good will from Canon customers. You Yanks telling us we have nothing to complain about isn’t gonna put $450 back in my pocket. ...Show more →
I certainly haven't called anyone a whiner, or even hinted at it.
I agree that you shouldn'tbe happy. If it happened to me, I wouldn't be happy either.
Just don't think Canon took this decision lightly, as some are. Believe me, they took a hard look at it, and did more than a few calculations as to the finances.
Canon is the biggest, and it's up to them to make the first move. That's the way it works. After they made their move, Nikon announced theirs. The rest will follow, unless, as I said, they are willing to lose even more money in a chase for marketshare.
As far as current shipments go, it doesn't matter. It's not the manufacturing cost that has risen, but the value of the money in their markets that has shrunk. This shipment or the next, it will be the same.
Let's hope the currency moves the other way after a while.
It would be a risk to wait longer though. No one knows what will happen. The currency could continue to drop, or it could rise again. If it drops a bit, no harm, but if it drops a lot, prices will rise some more. If that happens, it might pay to take a day trip across the border, or order by mail.
The Can Dollar is linked to gas prices so I'm thinking it will be in the 80-85 cent range against the US $ for a while.
I got a load of stuff in Feb from B&H when it was at par. Got a 50L for $1100! Woo hoo!
Now the pendulum swings back. Canon are a big enough company to honour the pre-orders but it seems they would rather annoy us Canadians instead.
Taking off the original price from the Canon Canada web site without an explanation is just bad PR and they deserve to lose customers because of it. Badly handled all around.
Unfortunately bad PR seems to be the way Canon does business of late.
In the end it will have an impact, just like not listening to customers has finally caught up with GM, Ford and Chrysler.
I'll stick with them for now but good will has gone.
EyeBrock wrote:
Either way I'm not convinced that I should be happy about paying $450 more than a price announced 4 weeks ago.
At least NIKON are giving retailers until 12th November before a price rise.
Those 5D2's are in a shipping container somewhere between Japan and Vancouver as we speak, the prices didn’t rise midway in the Pacific. The increase should have been on the next batch.
Really I can't see why anybody is trying to defend Canon for jacking up the prices in Canada, especially posters from the US telling us we are whiners for complaining about this.
Are you trying to prove some point? We are not happy and I think those of us who have pre-ordered have a right to be annoyed.
Those of you in the States, you are alright Jack, why care about us? You obviously have no sympathy, why dispute our right to be annoyed at Canon? They have lost a lot of good will from Canon customers. You Yanks telling us we have nothing to complain about isn’t gonna put $450 back in my pocket. ...Show more →
No, the increases have to be on the first batch. The camera was designed and built in Japan and Japanese R&D dollars were used to create the camera.
Now, the loonie takes one of the largest weekly declines since 1970 and you are expecting to have the same purchase power for imported goods, unfortunately things dont work that way.
Just wait and see what happens if the canadian coin declines to the 60% level as it was for so long. I hope it doesn't happen, but if it does, be prepared for an almost doubling of prices for most everything from out of country.
I am surprised that all the flak is directed at Canon rather than at the retailer(s) who has(ve) taken the down payments and will not now honour its(their) commitment(s). We have seen from this thread that other retailers in the same situation have made the opposite decision. Canon itself did not disown the contracts it signed, retailers did this. Why not post a list of both types of retailers, those who will stand by their word, and those who welsh? From an effectiveness standpoint, you have IMHO a much better chance of getting a retailer to change its mind than behemoth Canon, which can rightly claim that they did nothing wrong.
