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Canon Aims to Overtake Xerox in Multifunction Copiers
SEP 06 — Canon Inc. said surging sales of new models will help it overtake Xerox Corp. as the world’s largest maker of color copiers that also print, scan and fax.Canon, already the world’s biggest maker of monochrome copiers, has 21 percent of the $8.6 billion multifunction color copier market by shipments, behind Stamford, Connecticut-based Xerox’s 25 percent. Canon released three models in July that are selling faster than the company can make them, Masaki Nakaoka, head of imaging products, said in an interview yesterday.“At our current production pace, we can win the world’s biggest share by the end of this year,” said Nakaoka. He declined to give a forecast for revenue from the copiers.Canon is counting on demand for multifunction color models to help maintain its operating margins, the highest among Japan’s top consumer electronics and office equipment makers. Sales of the machines are likely to increase 21 percent a year between now and 2010, said Tomoko Mitani, an analyst at Gartner Japan Ltd.“With the release of the new models, Canon can be No. 1 for a limited time,” said Mitsuhiro Osawa, an analyst at Mizuho Investors Securities Co. in Tokyo. “After that, they and Xerox and Ricoh Co. will perform at the same level.” Ricoh is Japan’s third-largest color laser printer maker.
Xerox Turf
Fuji Xerox Co., a copier maker owned by Xerox and Fuji Photo Film Co., said it has advantages in marketing over Canon and other rivals.“We have a strong sales channel to big enterprises, so we will keep that position,” said Minoru Nakajima, a spokesman at Tokyo-based Fuji Xerox. He declined to comment on the outlook for multifunction color printer market share.Gartner Inc. estimates that within five years, color models will account for 90 percent of the global market as Canon and rival makers may lower the cost of using the machines. Users spend between four times and five times as much to operate a color copier, than a monochrome one, according to Gartner.Color models accounted for 12 percent of copiers sold globally in 2005, up from 9.7 percent the previous year. Canon said it expects global sales of multifunction color copiers by all makers will increase 40 percent this year.Canon in July introduced its “image RUNNER” series, which can print between 36 and 51 color pages a minute. The company is making 5,000 a month, which isn’t enough to meet demand, Nakaoka said. The company sells the machines for between 1.85 million yen ($15,800) and 2.35 million yen ($20,100).
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