Canon hopes small mar­kets will make big im­pact in China

The Pak Banker - - COMPANIES/BOSS -

TOKYO: An ex­ec­u­tive from Canon Inc, the Ja­panese cam­era maker said the grow­ing de­mands from small cities in China will boost the sales of cam­eras in the world's largest buyer of high-end cam­eras. "Chi­nese con­sumers in four-tier and five-tier cities are show­ing greater in­ter­ests in cam­eras, de­spite the slow­ing econ­omy," said Shu­nichi Mori­naga, vice pres­i­dent of Canon China. "The higher-end the cam­eras, the more pop­u­lar they are," Shu­nichi said, adding con­sumers in small cities are more will­ing to shop on­line.

"E-com­merce is be­com­ing an in­creas­ingly im­por­tant re­tail­ing chan­nel, ac­count­ing for 30 per­cent of sales here," Shu­nichi said. Last year, the com­pany saw a de­cline of 10 per­cent to 20 per­cent in cam­eras sales in the coun­try due to weaker de­mands in compact cam­eras and the zeal for smart­phones equipped with high-def­i­ni­tion cam­eras.

"We are work­ing hard to dif­fer­en­ti­ate our prod­ucts from smart­phones by of­fer­ing bet­ter im­age qual­i­ties and shoot­ing ex­pe­ri­ence," Shu­nichi said. As more Chi­nese peo­ple travel around the globe, the com­pany is also work­ing swiftly to tap into the tourism boom. Canon launched an ini­tia­tive, al­low­ing Chi­nese buy­ers to en­joy war­ranty ser­vices when trav­el­ing in for­eign coun­tries in­clud­ing Aus­tralia, Hong Kong, Sin­ga­pore and other pop­u­lar des­ti­na­tions. More than 120 mil­lion Chi­nese trav­eled abroad last year, up 12 per­cent year on year, ac­cord­ing to China Na­tional Tourism Ad­min­is­tra­tion.

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