Technology major Epson has announced that it will invest 50 million Euro in Europe over the next two years to drive growth focusing on consumer to business markets.
Epson president Minoru Usui said the corporation would concentrate on creating its own core components moving forward. "The time has come to focus on our customers, not the competition," he declared at a corporate press briefing in London.
The company is currently ploughing 6 per cent of its annual turnover into R&D. Usui-san said the brand's focus will be on areas where it can make a significant contribution - printing, visual communications and quality of life and manufacturing.
"As a result we are moving into some exciting areas - wearables, labour saving robots and printers with super high capacity," has said, adding, "Our strategy plan and innovation pipeline are bearing fruit. In 2014 our share price was one of the top performers on the Tokyo stock exchange. Epson's future lies in the values of its past."
Also speaking at the briefing, Senior Vice President of Epson Europe Rob Clark said, the company was increasing its regional workforce by 10 per cent, opening new offices in Berlin, Munich, Lisbon and Madrid.
Key to Epson's B2B strategy is its growing range of WorkForce Pro and WorkForce Pro RIPS (Replaceable Ink Pack System) business inkjet printers, which it believes will drive a shift from laser to business inkjet printing technology in medium to large sized corporations. Industry research firm IDC has reported that business inkjet printing represents a 38 billion Euro market opportunity in Europe. 1 in 4 printers (thatÃ¢â‚¬â„¢s 2.2 million units) sold into office environments in 2014 were based on business inkjet technology.
However, the company is also investing heavily in display technologies, from ultra short throw interactive projection systems, like the EB-1430Wi ;to a new generation of Moverio Smart glasses.The latest model, the Pro BT-2000, is pitched squarely as a workplace tool. An iteration of the BT-200, it features a new, rugged design, allied to a 5MP 3D camera with three-dimensional depth sensing, able to detect the size and spatial positioning of objects in relation to each other. The system also boasts a proprietary Epson inertial measurement unit (or IMU sensor) for accurate head tracking or indoor positioning. It can be connected to keyboards, mice and headsets, via Wi-Fi and Bluetooth.