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AnonymousInactive<p><font size=”5″><strong>Canon to Target China Amidst Anti-Japanese Sentiment </strong></font></p>
<p><font size=”4″> <strong>Canon to Target Chinese Market Amidst Lingering Anti-Japanese Sentiment<br />
<font size=”3″>by </font></strong></font><font size=”3″>DL Cade </font></p>
<p><font size=”4″><img width=”607″ height=”397″ src=”http://files.petapixel.com/assets/uploads/2012/12/canonchina.jpg” alt=”Canon to Target Chinese Market Amidst Lingering Anti Japanese Sentiment canonchina” title=”canonchina” class=”aligncenter size-full wp-image-93664″ /></font></p>
<p><font size=”4″>Over the last couple of months, a political skirmish between Japan and China over the ownership of a set of islands has caused anti-Japanese protests all across China, affecting many of the Japanese manufacturing facilities. Some companies — most notably Panasonic and Canon — were <a href=”http://www.petapixel.com/2012/09/17/japanese-camera-factories-may-be-at-risk-amidst-chinese-protests/”>forced to shut down operations</a> and evacuate their premises as a result of the violent protests. Things got so bad that Chinese photographers had to <a href=”http://www.petapixel.com/2012/10/03/how-chinese-photogs-are-camouflaging-their-japanese-dslrs-during-protests/”>camouflage their Japanese-brand cameras</a> with red tape and Chinese flags.</font></p>
<p><font size=”4″>Despite the political atmosphere in the world’s most populous nation, Canon has China squarely in its sights as it plans its next moves for international expansion.<br />
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<a href=”http://www.petapixel.com/2012/10/03/how-chinese-photogs-are-camouflaging-their-japanese-dslrs-during-protests/”><img width=”620″ height=”444″ src=”http://files.petapixel.com/assets/uploads/2012/10/dslr1.jpg” alt=”Canon to Target Chinese Market Amidst Lingering Anti Japanese Sentiment dslr1″ title=”dslr1″ class=”aligncenter size-full wp-image-77807″ /></a></font></p>
<p><font size=”4″>In light of floundering compact camera sales and a recently forecast 5.9% decline in net profit, Canon is looking for ways to stay afloat. Unfortunately for them, given the aforementioned issues, the market with the most potential is found in China.</font></p>
<p><font size=”4″><a href=”http://adviser.dowjones.com/dja/promo/article.html?an=QTESOYZdobliVEek89X1gSFnCz5aytVD2nXxTi2n%2FDqKXs03Z%2BSzRyvYGBUyMURfGbpUdnG2ealtVPv0IQ7Wek2%2BeBVSrQ%3D%3D”>According to Juro Osawa of the Wall Street Journal</a>, Canon’s Managing Director Hideki Ozawa recently outlined his companies plans for aggressive expansion into China:</font></p>
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<p><font size=”4″>[Canon’s] current operations cover only a small part of the country’s enormous market and it is broadening sales channels… While China has more than 300 cities with a population of one million or more, Canon’s operations fully cover only the 16 biggest. We still have a lot more to do.</font></p>
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<p><font size=”4″>Ozawa reports that Canon is hoping to increase its sales in China from the $3 billion it’s raking in now to $10 billion over the next half decade. </font></p>
<p><font size=”4″><a href=”http://www.petapixel.com/2012/10/09/photos-of-kids-using-pricey-dslr-gear-going-viral-in-china/”><img width=”580″ height=”384″ src=”http://files.petapixel.com/assets/uploads/2012/10/tourst1.jpg” alt=”Canon to Target Chinese Market Amidst Lingering Anti Japanese Sentiment tourst1″ title=”tourst1″ class=”aligncenter size-full wp-image-79073″ /></a></font></p>
<p><font size=”4″>Mr. Ozawa is optimistic about the expansion. Because affluent Chinese families see high-end SLRs as “luxury items” — <a href=”http://www.petapixel.com/2012/10/09/photos-of-kids-using-pricey-dslr-gear-going-viral-in-china/”>a fact we shared about a couple of months ago</a> — the demand is already there. The only thing left to do is the actual expansion. And while that may seem easier said than done given the recent anti-Japanese sentiment, Mr. Ozawa made it clear that the company was no longer seeing any major impact on their business. </font></p>
<p><font size=”4″>(via <a href=”http://online.wsj.com/article/SB10001424127887323401904578160342074372424.html”>The Wall Street Journal</a>)</font></p>
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<p><font size=”4″><strong>P.S.</strong> A couple of interesting figures regarding the demand of cameras worldwide from the same article: according to JP Morgan analyst Hisashi Moriyama, the compact camera market will shrink by 2.7% over the next 5 years, while the interchangeable-lens camera market will grow by 14.3% during that same time frame</font></p> -
AuthorDecember 13, 2012 at 8:09 AM
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