Canon aims to boost digital camera sales in China

Aug. 24, 2009 (China Knowledge) - Canon Inc, the world's largest camera maker, said the Chinese market would contribute one fifths of its global digital camera sales in the next couple of years, as the country's digital camera market had not been impacted by the global economic crisis as much as earlier estimated, the China Daily reported.

Despite the global financial crisis, China's digital camera market still sees rapid growth, said Masaya Maeda, chief executive of Canon's Image Communication Products Operations, adding that the country is likely to take up 20% of the company's global digital revenue by 2012.

China is on its way of becoming the key market globally for digital camera makers, despite the estimated drop of 7% this year in global shipments, Maeda added.

Hideki Ozawa, president of Canon China, also expressed his confidence in the Chinese market and expects Canon's business in the country to grow by 20% in 2009 due to a continuous economic pickup.

Canon has released over 23 new digital cameras in China and will launch more new products in the second half of this year to boost sales. The company said it would target the country's post-1980s generation consumers, who have obtained great purchasing power.

Canon has about 30% market share in China and its total shipments of digital cameras in China hit about 35 million in 2008. The Japanese company expects to boost the shipments to 100 to 200 million in the country in the near future, said Tatsuo Yoshioka, vice-president of Canon China.