This Week in Imaging: A Look at Canon’s Success Story
This week, Canon Inc. of Japan held a corporate conference which it used to discuss its current and future strategy. While the company discussed many interesting things – including its goal to become the number-one office and home print provider – it also explained how it’s weathered the COVID-19 storm and returned to pre-COVID profits – including its office-print business.
In contrast, many companies’ office-print businesses have struggled through the pandemic, which isn’t surprising considering office shutdowns around the world for the last two years.
But Canon of course has also experienced this. Its response appears to have been different, however, as it sought to reduce overall costs. The company’s cost-cutting for its office-print business has included sharing personnel, facilities, and other resources. Canon has also benefited from having printers and MFPs that can be deployed at home for work-for-home.
In the future, the company says that it will further reduce costs and increase market share with more price-competitive models through product platform consolidation, production automation, and bringing production in-house. Overall, it’s forecasting steady 4 to 5 percent annual growth for its office and production-print businesses.
In the future, it will be interesting to see just how this product platform consolidation looks. Canon’s overall strategy appears to be a consolidated product line that’s less expensive to produce and manage and thus can be more price competitive than that of competitors – a strategy, it says, that will enable it to be the number-one print company.
This Week in Imaging