Date: Tuesday October 31, 2023 02:10:42 pm
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Printing giant Seiko Epson is betting on growth in the Middle East and Africa as demand ebbs in its home market of Japan and other developed nations, its chief executive said.
The company got a boost in sales during the COVID-19 pandemic as the push toward working from home increased demand for personal printers. But Epson faces long-term stagnation in mature markets as populations decline and digitalisation grows. The Middle East, Turkey, and Africa were growth highlights in fiscal 2022. So following success it had in India with a specialised subsidiary, the company in August set up a new base in Dubai to directly manage strategy in the region. “Our products are not yet widely distributed in the Middle East, and there is tremendous potential there,” Yasunori Ogawa said in an interview after the company posted quarterly results on Friday.
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