(JW Insights) Mar 28 -- Japanese electronics maker Seiko Epson will intensify efforts to expand investments in China and launch more eco-friendly, innovative, and tailor-made products that cater to the demand of Chinese consumers, in hopes of seizing emerging opportunities brought by the digital and smart transformation wave, reported China Daily on March 28.
"As one of the first foreign companies to enter the Chinese market, Epson has always regarded the Chinese market as one of the most important markets across the globe," said Akihiro Fukaishi, chairman and president of Epson China.
"The Chinese market has shown strong vitality and innovative ability, and there is a constant demand from consumers and commercial segments," Fukaishi said, adding the emergence of new business models, new formats, and new technologies has stimulated Epson to optimize its products, solutions, and services.
Data from global market research firm International Data Corporation showed that the cumulative sales of Epson ink tank printers in China reached more than 10 million units, topping the list in the Chinese market for 11 consecutive years, reported China Daily.
Its projector business ranked first in China in the fiscal year of 2021, accounting for 34.2 percent of shares in the country's projector market, said market consultancy Futuresource Consulting Ltd.
The Chinese government has attached great importance to green and sustainable development in recent years, which coincides with Epson's emphasis on its "efficient, compact and precision" philosophy.
Fukaishi said he is bullish about the prospects of China's economic growth and the company will continue to provide more green and innovative products and services for Chinese users, reported China Daily.
Noting that China is at the global forefront of digital development, he emphasized that smart and digital transformation have been regarded as one business opportunity that Epson shouldn't neglect in China.
Data from the Ministry of Commerce showed that foreign direct investment or FDI on the Chinese mainland, in terms of actual use, expanded 6 percent year-on-year to 268.44 billion yuan ($39.09 billion) in the first two months of this year.
Specifically, FDI in high-tech manufacturing surged 68.9 percent from the same period a year ago, while that in the high-tech service sector rose 23.3 percent year-on-year, reported China Daily.
(Li PP)
