Electronics firm banks on robotics for tapping unidentified growth potential in smaller cities
Japanese electronics maker Seiko Epson Corp, commonly known as Epson, is stepping up its business-to-business efforts and enhancing its localization strategy in China to boost innovation.
"Although the business environment in China has become more competitive, our revenue continued to grow steadily. The profit growth mostly comes from commercial products, including business printers, projectors, robotics and large format printers," said Akihiro Fukaishi, president of Epson China.
He admitted that the Chinese market is complicated and fast-developing. "Consumer habits have rapidly changed and internet-based industries and companies have expanded in recent years", Fukaishi said, adding that Epson sees huge potential for growth in the third-and fourth-tier cities of China.
Cumulative sales of Epson inkjet printers in China reached 3.56 million units by October, and its projector business has continued to be the market leader in China for the past six years, with a market share of 24 percent, according to Fukaishi.
Moreover, Epson's four-axis robotics ranked the first in China. It also announced last year it would tap into wearable devices, considering the huge potential for growth in that sector. The new generation of intelligent augmented reality glasses will be launched early next year in China.
Meanwhile, Epson will speed up its localization efforts. "We will roll out interactive events so that customers can see, touch and try our products. For this we have set up solution centers at the Epson headquarters and branch offices in China," said Fukaishi.
The company has also constituted a team of experts to offer business consumers professional and customized services. In August, it set up an exclusive call center for customers that can minimize downtime and provide one-stop services.
Last year, Epson announced its Epson 25 Corporate Vision (2016-25) to Chinese clients, which sets out the direction it will take in the next decade.
The company plans to step up the pace of its technological innovation, not only in traditional fields such as printers and projection equipment, but also by expanding its robotics and wearable devices output.
Its robots, mainly used in the manufacturing of electronics products, can help factory operators deliver more quality products and improve the efficiency and accuracy of assembly lines.