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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 Chart CAJ 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.
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