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Canon plans to more than double its RF mirrorless lens lineup by 2025, producing around 32 more models over the next four years, according to its latest earnings report spotted by Canon Rumors. One chart showed that it planned to keep up the “same pace” of lens releases, which amounted to eight new models in 2020-21. If it can stick to that, it would have nearly 60 full-frame RF lenses in about four years time. 

Chairman and CEO Fujio Mitarai said that the overall market continues to shrink due to the decline of entry-level models (thanks, smartphones), but demand for higher-end models is still high. As such, Canon has been working on developing more of those types of cameras and lenses to go with them. The company now feels it’s capable of gunning for Sony in the mirrorless market share race.

“Overall, the market seems to be bottoming out,” he said. “Over the past several years, we have worked to raise the appeal of the EOS R system by enhancing our lineup with highly competitive full-frame mirrorless cameras and RF lenses. As a result, we have established a solid position in mirrorless cameras, and are now in a situation where we can target the top market share position.”

Canon also plans to improve its profitability with increased factory automation, while further pursuing “concept” camera designs like the weird table-mounted PowerShot PX. It’s also planning to mass produce SPAD sensors that can take high-quality color photos with almost no light, used in applications like “advanced monitoring.”