XYZprinting eyes up a bigger share of China market
XYZprinting Inc. ( ), the threedimension (3D) printing division of Taiwanese electronics conglomerate New Kinpo Group ( ), forecast Wednesday that China will become one of its major markets next year as it is making a push into that country’s education sector.
XYZprinting shipped about 30,000 3D printers last year and expects the figure to reach to 120,000 units this year, with the US accounting for around 50 percent, said the company’s CEO Simon Shen.
But by 2016, the company’s shipments to China may equal those to the U.S., he said, noting that the Chinese government has new policy to install a 3D printer in each of its roughly 400,000 elementary schools over the next two years.
XYZprinting is already taking advantage of this policy and has started selling its 3D printers to several Chinese elementary schools, Shen said, at the Taiwan launch of its entry-level da Vinci Jr. 1.0 3D printer.
Shen said his company also teamed up with Magic Factory, a new e-commerce subsidiary of Chinese PC maker Lenovo Group Ltd., on March 25 to give Chinese consumers broader access to its 3D printers.
Driven by China’s new policy and the wider availability of XYZprinting products, the company is expected to show a profit for the full year 2015, Shen said.
Gary Shu, senior manager of XYZprinting’s market development division, said the company’s monthly shipments reached a high of 5,000 to 6,000 units in November 2014, driven by promotional events in the U.S.
A model strikes a pose by a 3D printer by XYZprinting, in Taipei, yesterday. XYZprinting, a division of Taiwanese electronics conglomerate New Kinpo Group, forecast yesterday that China is poised to become one of its major markets. XYZprinting shipped about 30,000 3D printers last year, with the U.S. accounting for around 50 percent. By 2016, the company’s shipments to China may equal those to the U.S., said the company’s CEO Simon Shen ( ) yesterday.