update SINGAPORE--Last year was a good one for Canon in South and Southeast Asia as the Japanese consumer electronics giant grew its regional sales by more than 100 percent, says a senior company executive.
Speaking to the local media over lunch Thursday, Kevin Ogawa, CEO of Canon Singapore, said his group's 2005 product sales topped US$1.7 billion, an increase of 115 percent compared to the previous year. Canon Singapore oversees the island-state's domestic market as well as four subsidiary businesses in Philippines, Thailand, Malaysia and India.
Looking back on the last 12 months, Ogawa said the four subsidiaries recorded their highest sales in December 2005, while Singapore's best month was May. Canon's Singapore domestic business grew by 115 percent, while Canon's businesses in Thailand, Philippines and India grew by 130 percent, and Malaysia increased sales by 120 percent.
Established in 1979, Canon Singapore is the regional headquarters for South and Southeast Asia. In January 2004, Canon merged its operations with its local sales and marketing company, Canon Marketing (Singapore), so as to bring about a unified Canon presence in the island-state.
On the performance of Canon Singapore's three main business units, Ogawa said the Business Imaging Solution division, which makes products like copiers, fax machines and document scanners, grew 110 percent over 2004. The Image Communication Product, which makes digital cameras, grew by 126 percent, while the Consumer System Product division, which makes printers and scanners, grew by 110 percent.
According to Ogawa, Canon Singapore's product revenues are split 65-35 between its consumer and business divisions.
Canon Singapore hopes to double last year's sales over the next three years and achieve its target of US$3.4 billion by 2008, Ogawa said.