-I've been searching for that info, but found nothing.
And here my thoughts and guesses...
Yamaha's "standard" Classical pianos prices start at about 35000€ (CFX-es aren't sold in mass, I guess). That is, one Classical piano is the same price as: 1xGenos(=5000€) + 5xSX900(=11000€) + 8xSX700(=11000€) + Others (=8000€). Now we might think "selling one Classical piano is the same money as a bunch of keyboards.. so why even bother with keyboards?".
It probably depends from country to country, but I still believe that it's easier to sell a "bunch of keyboards of various types", than that's the case with Classical pianos. I mean, every smallish city has some musical instruments store with keyboards on display and on stock. It's not that easy to find a store with Classical pianos, though.
And then there's another thing. Making a Classical piano is very labor intensive. I've seen "Visit at Yamaha factory" documentary and all pianos are in majority hand made. Additionally, very big area is needed for storing wood, painting, assembling, testing and storing finished products. What I'm saying is, making piano costs a lot of money.
Keyboards on the other hand, are mass products: once production is started, making a keyboard is very cheap (especially if assembled in 3rd country). And so in my opinion, percentage profit is much bigger than that's the case with Classical piano production.
Yes, being 10-times more expensive, amount of money (total income) is much bigger for Classical pianos -but so are the costs.
-as said, just my thoughts.
Bogdan
I think you are forgetting about the much cheaper uprights such as the B1, B2, B3, U1, U3 and YUS series.
My guess is Yamaha sells at least twice as many uprights than grands.
You can have a B2 for close to the price of a Genos. I bet the B series alone outsells the Genos. Certainly the B + U series does.
Not many people will have space for a grand.
I doubt it actually costs Yamaha more to make a B2 than a Genos when you look at the bigger picture, despite the labor intensity and extra materials used. Genoses are made in China and B2s in Indonesia which on average has 25% lower manufacturer costs. The upfront cost of developing the Genos software will have to be paid back through the later sales (and subsequently re-using that stuff in the SX keyboards etc).
An upright will still be seen as a great piece of furniture that will last decades with often parents buying one for children (the second hand market is massively more active, but I bet when many people see a Yamaha upright for £5,000 or less + free delivery + warranty (thus less hassle) they may just buy it new.
A Genos, surely is seen as a bit of expensive music tech that only nerds like us will enjoy / understand the point of and will last 10 years max in most households.
Even if you want to focus fully on cost by unit vs sales figures and where Yamaha should thus focus its resources, one, I'm sure, would conclude a follow up to the P515 is going to be more lucrative than a Genos 2 for Yamaha.
Indeed, as pointed out sales figures of pianos have dropped off, but I expect they have of organs / keyboards / arrangers also. The DAW + endless instrument plugins growth (via the internet) over the last 20 years alone must have taken a massive bite out of these markets. The only saving grace probably being digital slab pianos do well and which is why we see such a variety and quick release of these across all brands and none abandoning them (unlike Roland with arrangers/keyboards has done).
Google trends indicates there are almost as many lookups for "Yamaha Genos" and "Yamaha U1" across the world with the U1 staying more consistent over the last 5 years and the Genos waning off, which is to be expected.
Also the likes of U1 will hold its value longer than a Genos which you probably can't even give away easily in 10 years time. Except for the few nostalgia nerds (like many of us here), who the **** would want it at that point? It's just an old inconvenient piece of tech which will no longer be supported almost anywhere online. A nice piano however...
All these factors will play a role in people deciding what to spend thousands on when buying an instrument.
I thus think for 95% of the people in the market for a new instrument with piano keys on it: an acoustic or digital piano is a more wise investment than a complicated arranger.
Thus Yamaha is and will spend its resources accordingly.