Epson bullish on sustained demand momentum in Philippines

CEBU, Philippines - Japanese imaging giant Epson expressed optimism on sustained demand in the Philippines amid the country's growing economy.

Epson Philippines marketing Ed Bonoan noted the sustained demand for the company's key products such as printers and projectors.

"Demand is there if all goes well in the economy. We're very dependent on the economy. This is what propels the demand," he said in an interview at a company event in Mactan, Cebu Thursday.

Bonoan said the Visayas and Mindanao markets are quite dramatically growing.

He added the company also sees a big rise in its business customers both private and governments. "Most of our products now are geared towards businesses," he said.

He added individual customers continue to support the demand.

He noted the Japanese firm remained a market leader in the country in terms of inkjet printer and projector sales.

He also projected the rise in sales of POS (point-of-sales) machines, with the directive of Bureau of Internal Revenue to businesses to shift to non-thermal receipts.

The tech company has gone beyond its mainstream product categories.

Aside from the mainstream products, its other product segments include visual communications, wearable products and industrial solutions, and proprietary technologies.

The imaging giant had said the Philippines was seen as one of the markets that will lead printing growth in Southeast Asia, which is poised to become the global production center for the industry over the next four years.

It said that sector-wise, the local market will see more growth in the textile and garments segment than signage printing and proofing.

Textile and garments, driven by markets such as Cambodia, Bangladesh and the Philippines, is targeted to grow 30 percent, the signage business by a fifth, while proofing could end up flat. — (FREEMAN)