Technology major Seiko Epson remains bullish on the Southeast Asian market after seeing steady growth in the region in the last three years.
In a media briefing, Epson officials shared the company’s plans to drive further growth in the region in relation to its “Epson 25” vision, under this, the company aims to create a “new connected age of people, things and information with efficient, compact and precision technologies” in the next 10 years.
Epson officials said its business segment in Southeast Asia, which includes Singapore, Malaysia, Indonesia, Thailand and the Philippines, grew by 9 per cent in fiscal year 2015.
In the medium-term, Epson expects this growth to continue as it focuses on four key areas of innovation -- Inkjet, Visual Communications, Wearables and Robotics.
“Epson’s heritage as a watch maker is core to its expertise in developing high-performance precision technologies. Epson will continue to leverage our core technologies to create new innovations that will meet new needs across our focus segments, to bring new value to our customers through precision and smart technologies, and that will reduce impact to the environment,” said Toshimitsu Tanaka, managing director at Epson Singapore.
Epson said it sees sustained demand for its ink tank printers in Southeast Asia, with sales growth at 17% in 2015. The company’s professional printing business is also doing well, with 6% growth for its large format printers last year. For 2016, Epson expects this segment to rise by 13%.
In an interview with BusinessWorld, Alastair Bourne, Epson general manager for public relations and investor relations, said demand for inkjet printers to remains strong in the Philippines.
“The ink tank printers are big in the Philippines and we expect the trend to continue as a lot of businesses still use laser printers there and we think there are still a lot opportunities that can be explored,” he said.
Bourne also expressed their commitment to the Philippines under the administration of President Rodrigo R. Duterte, citing the near completion of its new manufacturing plant in Batangas as a testament to that.
“We are on track to open the new plant early next year,” Bourne said, adding, “The reason we are in the Philippines is we have an excellent work force there and have a good relationship with the government through PEZA (Philippine Economic Zone Authority) and will try to work with the new administration as much as we can.”