Canon sets its sights on printer market
21/05/2007 16:04

Imaging giant Canon has set its sight on taking on printer supplies specialist Hewlett-Packard (HP), after announcing a possible takeover for the printer division of Kodak.

Prensa Latina revealed that executives from the leading Tokyo-based camera manufacturer want to maintain its position as one of world's market leaders.

Canon chief executive Fujio Mitarai said: "Canon will not renounce its world leadership in the camera and multifunction printer areas without a fight, while the sector competitiveness is ever more fierce."

He added that the company's goals include reaching number one standing in all its market segments over the coming years, "including office imaging products, computer peripherals, business information products, optical products as well as cameras".

Canon's balance sheet for 2006 was reportedly strong, with sales reaching $35 billion (£17 million) globally.

However, if Canon intends to lock horns with HP in the printer supplies war, it has a fight on its hands.

Last year, HP's information technology and printer supplies revenue was £91.7 billion.

Meanwhile, Canon is celebrating four best product awards from the recent Technical Image Press Association, including Best D-SLR Professional award, Best Professional Lens, Best Small Format Photo Printer and Best Multifunction Photo Printer.

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