This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Canon Continues to Lose Focus

Sony (SNE), Toyota (TM), Honda (HMC), and Canon didn't become household names by being average.

However, after calling Canon I quickly had a "We're not in Kansas anymore," moment. The Japanese company I thought I was buying from was Canon USA and the experience was also an ocean apart. Keep in mind that I bought the camera because of the telephoto ability and my only option was sending it to a repair facility. Canon also requires customers to receive repairs fixed with used parts or maybe a used camera as a replacement.

From Canon USA:

"...The Canon Factory Service Center repair facility may repair your product or exchange it for a new or refurbished product of the same model, or for a new or refurbished product of an equivalent model to your product, with the same or additional features. Please note that recovered, remanufactured, repaired and/or recycled parts may be used in connection with such repair..."

Since I was subject to the possibility of a used camera sent to me as a replacement I asked if I could give a credit card deposit and have one shipped to me right away; avoiding the delay of travel time. I was advised my solution is against company policy and they would not make an exception. Canon did offer to pay for the shipping charges after I called them and the person I talked to was polite, albeit without authority to provide a satisfactory solution.

All companies have defective products and problems; however, it's how a company takes care of problems and their customers that separates the winners and losers. My wife owns a Toyota van and every time she's had an issue she tells me the same thing afterwards, "I will buy another Toyota." I can't say the same about Canon cameras or stock.

CAJ Revenue Quarterly ChartCAJ Revenue Quarterly data by YCharts

Before you come to the conclusion that I don't like the stock because of their service strategy, let me stop you. The smartphone I wrote about earlier that I used to take a picture of twin "Greg Jennings" was on a Samsung Galaxy S3. In fact, I don't own one Apple product, and I love Apple stock. I think Apple is one of the top stocks to own right now.

I think Apple has tremendous opportunities in payment processing and other areas that will keep the company growing long after smartphones become commodity items. You can read my latest article Could Apple Become Your Next Bank? to read how bullish I am. On the other hand, I love Facebook, but consistently warned investors to stay away.

2 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,093.15 +6.52 0.04%
S&P 500 1,990.68 +3.67 0.18%
NASDAQ 4,484.1510 +10.4540 0.23%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs