Diversified Epson aims for 5% growth

Tech March 18, 2014 00:00

By Jirapan Boonnoon
The Nation

6,953 Viewed

Value, lower running costs in focus for No 1 in all segments

Epson (Thailand) expects to grow 5 per cent this year after expanding into new markets.
Yungyong Muneemongkoltorn, general manager of Epson, said the company was enhancing its product line to meet customer demand and focusing on value and running costs and new market expansion as well as its goal to be No 1 in all segments of printers.
Yungyong said that Epson would enhance all of its models with low running cost in every segment, including home, students, small and medium enterprises (SMEs) and corporate, while delivering high-yield printers to the market.
With new market expansion, the company would expand its business into the textile industry and provide direct-to-garment and label business printers. 
It would also deliver an A3 paper printer for SMEs and the home market and deliver an A4 paper printer.
Yungyong said that Epson (Thailand) was now responsible for five other markets – Vietnam, Laos, Cambodia Myanmar and Pakistan. 
He said the company had a 3Es strategy – enhance, empower and engage – networks for international growth. 
The firm would create channel development, provide service to support customer requirements, provide resources to support businesses in the region, synergise resources and localised product and services to support the demand. 
Epson director Hiroki Yamamoto said that last year the company faced a very challenging situation in Thailand due to the political climate. 
But he said the firm’s ability to manage and sustain business had spurred growth. 
The company also achieved growth in the projector market, with market share of about 26 per cent.
Yamamoto said that Epson had boosted its market share in the high-yield printer segment.
He said that in 2013, the high-yield market in Southeast Asia was around 31 per cent of the total printer market. 
Epson was No 1 in the market with a market share of 44 per cent in term of units and 57 per cent in terms of value.
Yungyong said that last year, 85 per cent of the company’s revenue was generated in Thailand, with the remaining 15 per cent coming from Vietnam, Laos, Cambodia, Myanmar and Pakistan. 
Of the 15 per cent, 45 per cent was generated in Vietnam, 23 per cent in Myanmar while Pakistan, Cambodia and Laos generated 15, 10 and 7 per cent, respectively. 
 In 2013, Epson had success in inkjet and commercial industry printers while it maintained business in the projector market. 
For the inkjet segment, the company had growth of 5 per cent and it achieved growth of 28 per cent in the commercial industry segment and flat growth in the projector market, with the company successful in providing projectors to the medium and high-end markets. 
Its projector market share was 26 per cent. 
Yungyong said that Epson’s inkjet market growth in Thailand last year was around 3 per cent. 
He said one factor that drove the inkjet market last year was more consumers understanding the value of owning a printer such as the Epson L. 
The company achieved 80 per cent growth in value in the L series last year. 
It also enjoyed success in providing large printers to commercial industries such as the textile segment, with its large printer business growing 30 per cent last year.
Epson expects that by the end of the next fiscal year (April 2014-March 2015) its revenue will grow about 5 per cent. 
It expects that 60 per cent of its revenue will come from the corporate segment, a 5-per-cent rise year on year, and 40 per cent from the consumer segment, a 5-per-cent decline year on year.