Japanese electronics maker Seiko Epson Corp, commonly known as Epson, will continue to step up its efforts and enhance its localization strategy in China to boost innovation and offer creative and eco-friendly products.
Although the business environment has become more competitive, Epson's revenue has continued to grow steadily with 16 percent increase in fiscal year 2017, said Akihiro Fukaishi, president of Epson China.
The company continued to hold the first place in the market shares of projectors, robots and scanners. Epson's inkjet printers have achieved the average growth ratio of 36 percent since it was launched in 2012 and gained significant market recognition, Fukaishi said.
While the high-end projectors, which benefit from the company's 3LCD and laser technologies, achieved 56 percent growth last year, according to the company.
"Following the trend of China industrial automation, Epson robotics has grown 85 percent last year. I'm confident that Epson robotics will maintain this growth into the future," said Fukaishi.
He added they saw a clear evidence of consumption upgrade and the middle class are becoming the main consumers in China market.
"As business owners, how to meet and satisfy customers' new demand becomes a big challenge. We believe that consumption upgrading brings opportunities for Epson to offer new experiences in the way we interact with space and images," he said.
The business-to-business products of Epson accounted for 76 percent of Epson overall revenue by the end of the fiscal year 2017, according to the company.
Epson announced its Epson 25 Corporate Vision (2016-25) to Chinese clients in April 2016, which sets out the direction it will take in the next decade.
Founded in 1942, Epson is dedicated to connecting people, things and information with its original efficient, compact and precision technologies. Its lineup ranges from inkjet printers and digital printing systems to 3LCD projectors, smart glasses, sensing systems and industrial robots.