35
-9%
10,989 $m
Electronics
Despite the yen’s volatility, the leadership of returning President Fujio Mitarai helped keep Canon steady through challenging times. This past year has seen a heady schedule of product launches, entry into new markets, and expansion of sales and manufacturing bases outside Japan. Since launching an entry-level digital SLR in 2003, Canon has become synonymous with the camera category. The high-end market continues growing, but the global market for compact digital cameras has collapsed as smartphones have become commonplace. Canon continues to innovate with products like the EOS M, employing a non-reflex operating system, as well as new additions to the PowerShot lineup and high-end, high-definition video cameras. The brand is also advancing into online photo management with Project 1709, a cloud-based service that promises deep social and product integration. To expand the imaging systems business domain, Canon also recently entered the growing retail photo printing business with DreamLabo 5000. In its core office business, Canon sees significant potential from the integration of Océ, made a wholly owned subsidiary this year, helping it become a leader in the printing industry. High-profile marketing campaigns and sports sponsorships, such as becoming the official partner of the IAAF World Athletics Series, help keep the brand top of mind with consumers. Still, with its core markets changing fast as technology advances and consumer behaviors evolve, Canon will need to increase its pace of innovation even more.