Canon and Océ aim to change landscape of printing industry in Korea
Monday, March 07, 2011
Press release from the issuing company
Seoul, Korea; Venlo, The Netherlands - Canon and Océ have announced their intention to enter the Korean commercial printing market. Canon Korea can complement its existing prominent office product portfolio and sales network with the comprehensive Océ range of commercial printers. This will now enable clients such as direct marketing companies, architects and industrial designers to build their business as well. Canon Korea Business Solutions announced the news at a press conference marking the opening of an industry trade fair in the Korean capital Seoul.
Broader product portfolio
Canon, a world leader in imaging solutions, completed its offer for Océ in March 2010 and currently holds an approximately 90% share in the international leader in digital document management. The compelling combination of the two companies is set to change the landscape of the Korean printing industry, by providing printers for use at home, office equipment, larger digital presses and now an array of commercial printers.
Revenues of USD 1 bln anticipated by 2015
Currently, the domestic market for digital printing in Korea is estimated at USD 800 million. The market scope targets audiences including the publishing industry, outdoor advertising, signage, displays, engineering output and construction renderings as well as the photograph printing segment. Canon Korea Business Solutions aims to boost revenue to USD 1 billion by 2015 and double Océ revenue in Korea in years to come. The company also intends to build a new factory in the country by 2013, for which an investment of USD 100 million is required.
“Considerable potential growth opportunities”
“We anticipate an increase in personalized printing in Korea, with more varieties of small quantity printing and high quality printing, rather than large print volumes,” said Michael Sak, Managing Director Océ Direct Export Asia. “We are delighted to work together with Canon Korea Business Solutions in this significant domestic market with considerable potential growth opportunities.” Kim Chun-joo, CEO Canon Korea Business Solutions, added: “Together with our nationwide sales and service network, we intend to change the landscape of the printing market in Korea.”
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