Canon Professional cameras are expensive, but Canon isn’t too far off from doing so.
Canon’s CEO Mark Millar recently explained to the New York Times that Canon paid more than $300 million for the Canon EOS 5D Mark II and the Canon 5D II, both of which were sold to Apple for a combined $1.4 billion.
Canon says the $300 billion figure is for the costs of developing the cameras, including the software and hardware development, manufacturing, marketing, sales, support, distribution and customer service.
Millar said he did not have exact numbers on how many Canon Professional models were sold, but that it is well over a million units.
The new $300bn figure is also for Canon’s purchase price of the camera.
For Canon to sell that many cameras, it has to spend $2 billion to develop the camera, which is expected to cost at least $1 billion.
The $300m for the cameras alone is about what Apple would pay for the iPhone 6.
According to the Times, Canon is still paying for the development of its EOS cameras and lenses, which include the Canon EF lenses, the Canon 35mm f/1.8 lens, the Panasonic 35mm-format 35mm prime lens and the EF 70-200mm f2.8 prime lens.
The company has said it is paying $250 million for those lenses, and it expects to pay $1 million more to produce those lenses.
Millard said that he did believe that Canon’s investment in developing the Canon Professional lenses was worthwhile, but also said that Canon is not doing enough to develop other professional cameras.
A source told the Times that “millions” of Canon Pro models have been sold and that the company expects to sell an additional 1 million Pro cameras.