Canon first-quarter profit falls 29 percent as compact camera sales slump

By Thomas Wilson TOKYO (Reuters) - Canon Inc on Monday said net profit fell 28.7 percent in its first quarter, falling short of analyst estimates, as the Japanese company faced slumping sales of digital compact cameras. Profit was 33.93 billion yen (187.88 million pounds) in January-March, compared with the 53.64 billion yen average estimate of 5 analysts according to Thomson Reuters data. "Sales volume for low-end (digital camera) models declined due to the ongoing contraction of the marke