The Japanese technology giant officially opens up its subsidiary in Vietnam
By Han Sovy
April 10, 2018 | 11:32 AM GMT+7
With 26 per cent of total revenue coming from the Asian market, the establishment of a wholly foreign entity in Vietnam is considered as the next move of Epson, the Japanese technology giant, to maintain the development advantage in this region.
Epson Vietnam is confident to achieve impressive results in the technology and electronics markets this year.
According to the latest forecast of the Viet Nam Electronic Industries Association (VEIA), the consumption of electronic products of Vietnam will increase from 7.3 to 11.9 per cent from 2017 to 2020.
In fact, the increasing demand of consumers in this sector has attracted numerous huge investments from big foreign electronics groups, most of which come from Japan and South Korea.
Specifically, in 2017, LG invested $1.5 billion, followed by Canon with $306 million and Panasonic with $250 million.
Due to exciting developments in the technology and electronics sectors, Epson's long-term involvement in the market through Epson Vietnam Co., Ltd, its first subsidiary in Vietnam, is seen as a timely decision in line with its orientation to widen its presence in the future.
At the same time, this is also a positive response to the prominent growth signals of digital printer - Epson's flagship product, ahead of the close competition of many other brands in the Vietnamese market for many years.
According to IDC's report, Epson’s inkjet printer accounted for 53 per cent of the market share in Vietnam in 2017.
Hideto Nakamura, CEO of Epson Vietnam Co., Ltd, said that the newly-opened subsidiary in Vietnam will contribute to strengthening Epson's business and brand in the region on the basis of the introduction and development of new products in four key areas: inkjet printer, audio-visual device (projector), wearable device (watch) and robots.
In addition, with a satisfactory GDP forecasted at 6.3 per cent, Epson Vietnam is confident to achieve impressive results in the technology and electronics markets this year.
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