Epson Thailand, the local unit of the global printing and projection technology giant, is sharpening its focus on new S-curve products and a lease model to accelerate corporate engagement, while aiming to attain revenue growth of at least 10% this year.
"This year there are many factors that affect IT market growth, including the ongoing pandemic, which could affect the global supply chain and economy," Yunyong Muneemongkoltorn, managing director of Epson Thailand, said via an online news conference.
Semiconductor chips are still in short supply, as are shipping containers, he said.
The war in Ukraine has led to a jump in inflation and oil prices, hitting the Thai economy, Mr Yunyong added.
Manufacturing of several products is slowing as the private sector is likely to curb its expenses and new investments, he said.
"Epson needs to be agile and flexible in the face of volatility. We have formulated strategies to best respond to customers' needs," said Mr Yunyong.
The company aims to achieve at least 10% revenue growth this year through 5S strategies: Smart technology, Simple start, S-curve trend, Service excellence and Sustainable value.
For smart technology, the company aims to provide products which are not only efficient but also ensure lower total costs of ownership, including by using less electricity, Mr Yunyong said.
Regarding "Simple start", Epson provides a lease model, called Epson EasyCare 360 Mao Mao, with a flat rate.
The scheme charges a flat rate for customers to print up to 120,000 pages or use the printer for as long as 24 hours. The company plans to offer the leases of projectors for businesses, and high brightness projectors for educational institutes, corporate enterprises and event organisers.
Epson is also rolling out new S-curve products, such as high-speed printers, commercial and industrial printers and direct-to-fabric printers, Mr Yunyong noted.
The company has unveiled PaperLab, which is the world's first dry papermaking system for recycled paper, which can support the sustainability trend. It intends to roll out more robotic-arm models, including the T-B Series Scara Robot, to serve growing industrial demand.
Mr Yunyong said the company's robot products enjoyed 60% growth last year following an uptick in automation adoption in factories.
"We aim to see revenue from S-curve products grow 30-40% this year," he said. "We expect these products will contribute 20-30% of the company's total revenue in the next 3-5 years, up from 10-15% this year."
For the service excellence drive, Epson intends to increase the number of its service centres. It has also built a team of technical specialists to help customers with robotic arms and textile printers.
For the sustainability approach, Epson is developing products by considering the green environment.
"We believe business is about to resume its work, which could drive demand for our products, including robotic arms for factories and label printers," Mr Yunyong said. "The Bangkok governor election is also expected to drive up signage ink usage."
In 2021, Epson registered revenue growth of 9% in Thailand, driven by strong growth in all product categories, he said.
Regarding ink-tank printers, Epson maintains its market leadership position with a 46% market share in terms of sales value and a 43% market share in terms of units sold.
Epson's ink-tank printer sales grew 18% in 2021.
