Canon plans to double Thai sales
Canon Marketing (Thailand), the local marketing arm of Canon Inc from Japan, plans to double sales to 10 billion baht by 2011, up from 5 billion baht last year.
Canon, the manufacturer of imaging products and office equipment, chose Thailand as one of its ''VICTORY'' countries along with Vietnam, India and China. The designation will mean special attention and funding for the Thai unit to support local growth.
Wataru Nishioka, new president and CEO of Canon Marketing (Thailand), said Canon have set a criteria for VICTORY countries of economic growth more than three times their GDP growth.
For Thailand, Mr Nishioka said the company wanted to keep 18% growth every year from 2008-2010.
To achieve its goal, the company will use five core strategies: launching internet marketing, introducing a strong and advanced product line-up, developing and educating staff, enhancing customer service and CSR (corporate social responsibility) actions that protect the environment and contributing to the society.
Canon (Thailand) has a 700-million-baht marketing budget, 11% higher than last year. The company expects its sales to reach 6.3 billion baht, a 19% increase from the same period last year and 3.4 times local GDP growth.
Mr Nishioka added that the company expected its Business Imaging Solution (BIS) division to grow by 14% this year, while its Image Communication Product (ICP) division and Consumer System Product (CSP) division would grow by 19% and 22 %, respectively.
Canon Marketing (Thailand) posted 2.9 billion baht in sales in the first half of this year, up 16% over the same period last year, almost three times the local GDP growth.