Canon Printer innovation
Although Canon feels the impact of the economic downturn, it earns healthy profits.
Three things work in the company’s favour: a robust balance sheet, steady sales of consumer products like digital cameras and printers, and the rapid rebound of Asian economies.
Even in a recession, innovative products will always find buyers, and these days software is driving innovation.
Canon’s multifunction office printer systems do much more than just copy or print; they are information hubs storing key documents in accessible formats within company’s networks.
It’s a similar story with cameras. Taking pictures is just the first step to creating a custom photo album and printing hard copies.
In other words, it is no longer raw information or images, but the editing and the peripheral services around them that create value. This trend has inspired Canon to review its entire line-up of products.
Expansion is another key to success.
Recently, Canon completed the acquisition of the Dutch company Oce, a global leader specialising in high speed digital production printers and wide format printing systems for professionals.
The transaction built on Canon’s extensive line-up of consumer and business offerings to provide the company with complete coverage of the printing category, from individuals printing holiday snapshots at home to commercial applications
At the same time Canon is diversifying into new areas. Snapping up Polish ophthalmology specialist Optopol Technology extended Canon’s medical technology reach beyond digital X-ray systems – already one of the company’s strengths – into ophthalmic diagnostic equipment, a segment expected to undergo significant growth.
Canon also plans to establish a basic research centre for biotechnology or health care in the United States.
Canon are also looking to locate factories closer to their markets as a means of cutting fuel costs and reducing the environmental burden.
Canon is among the world’s top 100 global companies and well on its way to becoming admired and respected the world over for contributing to society through technological innovation.