Canon intros 5-year development strategies, expands to B2B products
Canon recently introduced at the Canon Expo 2016 in Shanghai, China, its five-year development strategies of both Canon Group and Canon Asia Marketing Group which include the expansion of its business scope for B2B products.
In the expo’s opening ceremony, Mr. Fujio Mitarai, Chairman & CEO of Canon Inc., mentioned that the Internet of Things will play an important role in the company’s growth as it is, to a large extent, built on imaging technology. He said that 87% of all the information that human beings receive from the outside world is processed visually. That said, Canon’s core imaging technologies, lens technologies, sensors and processors will enable Canon to stand out from the competition.
Mr. Fujio Mitarai – Chairman & CEO of Canon Inc.
To achieve this goal, the company plans to reform the current business management structure and “build a ‘Network of Canon Companies’, which is an ecosystem of innovation to leverage local assets while managing globally.”
Mr. Hideki Ozawa, President of Canon Asia Marketing Group, introduced the company’s global strategy in the coming five years:
1. Creating New Customers – turning non-Canon users into Canon-users
2. Cultivating and Developing of Emerging Regional Markets in Asia – opening of more Canon stores not just offline but online, as well as running Canon-related events like PhotoMarathons.
3. Expanding Our Business Scope for B2B Products – Office Multifunction devices, Office Printers, Commercial Printing Products, Medical Equipment, and Security Products.
4. Strengthening Brand Image
With the said strategies, Canon aims to achieve its goal of turning the company into $10 billion Group by 2020.
Mr. Hideki Ozawa – Senior Managing Executive Officer of Canon Inc., President of Canon Asia Marketing Group, President & CEO of Canon (China) Co., Ltd.
Given that the company is expanding into B2B products, we asked Mr. Fujio Mitarai in an interview if consumers should be worried about this new business direction. He said that Canon will continue to invest in the consumer segment and develop high-quality products. Some examples are cameras that can shoot in 4K and 8K as well as high-speed printers. He added that Canon will always be in the Business-to-Consumer (B2C) practices and sees the need to strengthen its consumer offerings in order to successfully enter Business-to-business (B2B).
(L-R) Mr. Go Tokura (Executive Officer of Canon Inc., Chief Executive of Imaging Communication Product Group), Mr. Kevin Ogawa (Managing Executive Officer of Canon Inc., Chief Operation Officer of Canon Asia Marketing Group, Executive Vice President of Canon (China) Co., Ltd.), Mr. Tiger Ishii (Vice President of Canon (China) Co., Ltd.
In a separate interview, we also asked Mr. Go Tokura, Executive Officer of Canon Inc. and Chief Executive of Imaging Communication Products Group, if the company is open to the idea of offering new camera systems such as action cameras as well as imaging sensors and collaboration with smartphone brands. Although he declined to comment on specific products, he said that Canon already has a strategy for its future products but not in the way other brands are doing it. He added that consumers can still expect new and exciting products from Canon with the kind technology the company is known for.