Canon: We're launching a new advanced EOS RF model

Canon basically spilled the beans about the EOS R5 in their corporate summary of their annual financials (more on that later).  I thought this was important enough to have on its own post. 

Although we have launched two full-frame mirrorless cameras as well as ten dedicated lenses, our lineup is still insufficient. In order to recover from our late entry into the mirrorless camera market, we have plans to launch a model that incorporates a newly developed image sensor and image-processing engine that offer even more advanced features. We will work to raise our presence in the mirrorless camera category, leveraging large trade exhibitions around the world.

Okay, so Canon states that they are launching one new camera (possibly meaning this quarter, since the report is the year end but also about the 4th quarter of the fiscal year). This is surprising to see in a Canon financial article.  This is as if Canon is literally screaming this out.  If you wanted some proof that a vastly improved camera is coming out soon from Canon. There it is.

They are going to use a newly developed sensor and image processing engine.  I expect this camera to use the DIGIC X that is featured in the 1DX Mark III, and possibly some new sensor technology.  The 1DX Mark III is a fast sensor, with unknown noise and DR qualities.  Canon claims 1 stop better noise over the 1DX Mark II, however, that could be JPEG with noise reduction processing included.

At the same time, we will expand our lineup of dedicated lenses launching several innovative ones that take advantage of the new mount that allows greater flexibility when designing lenses. We will accelerate sales by responding to user need to capture various images, expanding options by combining camera bodies and lenses.

Several usually means more than one, possibly two lenses.  This is what we're hearing that the Canon RF 24-105 STM and the Canon RF 100-500 are two lenses that may be released shortly.  The rumors seem to align with what Canon is stating here.

This is interesting news.  It really does indicate that Canon was overly optimistic about the transition from the EF mount to the RF mount, and it simply didn't happen.  Instead, EF mount users stopped buying, and they were also waiting for more serious camera bodies on the RF mount or waiting for their specific lens that hasn't shown up yet.  I think a Canon RF 100-500 with the fast AF that we're seeing out of the 1DX Mark III in liveview, and even the latest firmware from the EOS R is giving us an indication of the near future should be very bright in terms of the competitive nature of the auto focus and features that Canon can bring to bear into the market.

Even amid increasing competition, we will expand sales of higher-end models driven by new products and aim for top market share even in the mirrorless camera market.

It was a matter of time until Canon took the gloves off and decided to own the mirrorless market.  Now they are stating it's their goal - and Canon rarely misses those goals.

• Corporate Summary PDF