Canon has reported a large hike in its profits because of boosted sales of the laser printers and digital cameras. The company has reported a net profit of 67.6 billion yen in the three months till June compared to a profit of 15.6 billion yen at the same period of time a year earlier.

According to the figures the net sales of the company rose up by 22% and touched to 970.4 billion yen.

Industry watchers have highlighted that more companies have announced to make use of its Web printing services as they come online; thereby nudging the print industry forward.

Canon has made an announcement, showing off its EOS Rebel T2i that will take its place atop the company's Rebel line of lower-cost digital SLR cameras.

This 18-megapixel powerhouse is the beneficiary of a lot of trickle-down from Canon's twice-as-expensive EOS 7D camera.