Canon has released the report of the first quarter and has reported significant overall growth. Its long troubled laser printer business has also seen reversion of decline.
In accordance to the financial report it submitted to the U.S. Securities and Exchange Commission, the OEM points to MFDs for its stellar performance in sales. According to Canon, MFDs has enjoyed solid demand, especially for color models. The total laser printers increased compared to the same period last year in emerging countries.
Despite the dwindling market for home-use inkjet printers, Canon still managed to achieve the same level of unit sales as last year. Canon attributes the steady performance to its stylish, compact-sized products launched last year in Japan. In addition, on the continuing growth of its refillable ink tank models, Canon praises the built-in fax feature added to the model at the end of last year.
Moreover, Canon also reports that the copiers demands are also on the rise. The company says the copier market has been achieving growth thanks to its new launch of its imageRUNNER ADVANCE models.
“In the first quarter, these new products contributed to double-digit color copier growth. The performance of the C3300 series, which targets mid- to small-offices, has been consistently strong since its launch in 2015. On top of this, the C5500 series, a core product that was launched in the second half of last year, showed significant growth in the U.S. and Europe.”
Looking ahead, Canon is optimistic of its prospects in the rest of the year. It says “the outlook indicates a trend of gradual recovery supported by improved employment conditions and corporate earnings. Overall, the global economy is expected to recover from the previous year, although concerns are mounting over the rise in protectionism and increasing geopolitical risks in the Middle East and East Asia.”