Epson Philippines Corp. said it expects sales to grow at double-digit in the fiscal year ending March 2018, after posting a 21-percent increase a year earlier, driven by strong demand in the provinces.
“We’ve been very dependent on the growth of the economy, so I think we’re quite bullish. The growth will probably be spurred by a lot of activities that we’ve been doing for the past years,” Epson Philippines senior general manager and marketing head Ed Bonoan said in an interview.
The Philippine economy grew 6.8 percent last year and is projected to grow between 6.5 percent and 7 percent this year.
“What we’re seeing also is a lot of expansion in the provinces. So, the provinces are contributing a lot to our revenues right now,” he said.
Bonoan said Epson Philippines posted a 21-percent growth in revenues in the fiscal year ending March 2017.
He also said Epson would continue to be the leading printer brand in the Philippines this year and in the coming years. For Inkjet innovations, Epson gained a 51-percent market share, which means 1 out of 2 printers sold last year was produced by Epson.
Epson also continued to dominate the professional printers category with a 41-percent market share.
It was also the No. 1 POS receipt printer for seven years running.
Epson said for visual innovations, with education becoming more and more advanced and interactive, it has a 67-percent market share.
“Simply put, Epson’s goal is to heighten people’s creativity, and to create a sustainable society in which people enjoy safe and healthy lifestyles. The long-term successes in Epson inkjet printer, projector and point-of-sale printer categories have paved the way towards this direction, as much as the recent successes of Epson products in commercial and industrial printing and wearable technology” Bonoan said.
“2017 is truly vital for the company as we continue to focus on making lives simpler and tasks easier with our innovations. These are what make Epson a trusted brand in many parts of the world,” Epson Philippines president and managing director Toshimitsu Tanaka said.