Canon Continues to Grow In The Printing Industry

Canon

The outlook for Canon is good for an expected 40 percent increase in operating profit for the year ending December due to extremely strong printer sales.

Nikkei Asian Review reported that the “consolidated operating profit for the year ending in December is expected to jump 40% to 330 billion yen ($2.94 billion) thanks to strong printer sales in emerging countries, successful acquisitions and automation.”

www.inkntoneruk.co.uk has certainly seen a huge increase in Canon’s market share over the last few years especially.

Canon updated the profit outlook in April but Nikkei reports another update is likely to be made soon “since its current performance is ahead of its 270 billion yen ($243 million/ €209 million) estimate. Sales are also expected to top the company’s 4.02 trillion yen forecast, climbing 20% to nearly 4.1 trillion yen ($3.7 billion/ €3.2 billion).“

The article reports that growth of laser printer sales was seen in China and Southeast Asian emerging countries. Popular models reportedly are the new high-speed models. This increase in printer sales consequentially meant an increase in toner and other highly profitable consumables.

That’s where www.inkntoneruk.co.uk comes in of course because our mission is to reduce your printing costs and to fight against the ever-increasing cost of living.

Other changes made by Canon include the purchase of the medical division from Toshiba in 2016 and Axis Communications in the previous year, which also increased profits.

Another new area boosting profits is the cost cutting exercise through automation. Nikkei reports: “ The introduction of robots to the company’s single-lens reflex camera factory in Oita Prefecture has helped reduce the number of necessary workers for certain tasks from some 40 to just three or four. Automation at printer and other factories has also contributed to earnings growth by improving productivity.”