Tags: Consumer Electronics, Hardware Solutions, Technology Industry
By Alexander Villafania
TAGUIG CITY, METRO MANILA – Despite a generally slow economic growth for the Philippines, Japanese imaging and printing company Canon is expecting P4 billion revenues by the end of the year, largely due to strong sales of its digital cameras and copiers.
In an interview, Canon Philippines Bong Serevo said that for the first half of 2010, the company has already passed the P2 billion revenue mark. With the Christmas season approaching, he said they are expecting to gain another P2 billion.
Serevo identified several reasons for a strong business year for Canon, which includes better foreign currency exchange, higher domestic and foreign investments, and better growth domestic product (GDP) percentage.
The company generated about P3 billion in revenues in 2008 and closed 2009 with about P3.5 billion.
Serevo said the big boost in business is generated primarily by the strong digital camera market in the Philippines, as well as the strong purchases of consumables such as printer cartridges and paper.
He also stressed that despite the growth of the ink refilling business in the Philippines, many consumers prefer to buy original cartridges.
“Although ink refilling addresses a different market, buyers of original cartridges want to get the best value out of their purchases. They want their prints to come out better and last longer,” Serevo said.
Canon recently launched a new line of printers as well as a new logo for the PIXMA line of printers and scanners. Three of the new models, the MP497, MG5270, and MG8170 have WiFi connectivity to allow for printing in a wireless network.
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