Fuji Xerox Expects Annual Revenue in China to Hit US$1 billion

Fuji Xerox saw revenue from its China market grow to almost US$800 million this year and expects to reach its goal of US$1 billion annual revenue in 18 to 20 months, reported South China Morning Post.

Gartner reported shipments of regular printers and multi-function printers on the mainland were forecast to reach 10.9 million units this year from 10.8 million last year.

In China, Hewlett-Packard was the leader of the printer market, with 37% share last year, followed by Canon, Lenovo Group, Epson and Samsung Electronics. Fuji Xerox “remained quite weak in terms of market share because of demand on the mainland for more low-end printer products”, so said President Tadahito Yamamoto (Pictured). However, he said it means “lots of room to grow and invest in this market”.

Masataka Jo, an executive general manager for Greater China at Fuji Xerox, said a greater focus on managed services to large enterprises, both domestic and foreign, would help drive faster growth for the company on the mainland.

According to South China Morning Post, Fuji Xerox initially started engaging large multinational companies from Japan, the US and Europe on the mainland for consulting, document solutions and other services designed to raise office productivity.

With an expanded sales force on the mainland, Fuji Xerox expects to boost the share of services to its annual revenue in the market up to 50 per cent by 2016.

Lam Lai-ling, a senior research analyst at Gartner, estimated the market for managed printing services on the mainland would increase 20% this year from 13%t last year.