Canon Launches New Direct Operations in Saudi Arabia
One of the fastest growing printer/copier regions is the Middle East and Africa, with, for instance, IDC reporting recently that, in first-quarter 2018, the Middle East and Africa led the market with a year-over-year 19.6-percent shipment increase, with 1.6 million units shipped.
Likely reflecting this, on June 5th, Canon Middle East (CME) that it’s expanding its regional presence in the Middle East by establishing direct operations in the Kingdom of Saudi Arabia (KSA). The announcement came during a signing ceremony between CME and Ali Zaid Al Quraishi and Brothers to formally establish Canon Saudi Arabia, which will become the largest regional direct presence for CME. The expansion is said to be in response to growing demand for Canon business solutions in the country.
Canon Saudi Arabia will operate from Riyadh in Saudi Arabia, and, with an additional two branches in Jeddah and Khobar, will be become Canon’s largest entity in the region. Canon Saudi Arabia expects to have over 300 employees by 2020.
Canon Saudi Arabia will report to Canon Middle East, which will continue to be Canon’s regional sales organisation for the Middle East. Following the establishment of Canon Emirates, Canon Middle East’s direct operation in the United Arab Emirates (UAE), Canon says that this strategic step allows it to further expand its offerings across the Saudi market, where it says there’s a growing need for digital and other technology-based imaging services.
Anurag Agrawal, managing director of Canon Middle East, said: “Establishing Canon Saudi Arabia is an integral part of our strategy of becoming closer to our customers through direct presence in key markets. Saudi Arabia is witnessing a transformation into a more diversified economy with several industries developing and establishing a presence in the region’s largest market. Through our products and business solutions, Canon Saudi Arabia aims to help customers address these opportunities and establish thriving businesses.”
These services are also particularly in demand with the growing number of small to medium enterprises (SMEs) that require digital systems, with SMEs currently making up over 91 percent of total enterprises in Saudi Arabia. Canon also says the expansion supports Saudi Arabia’s “Vision 2030” directive of increasing the SME gross domestic product (GDP) contribution to 35 percent by 2030.
According to Canon Middle East’s Agrawal: “Establishing a long-term presence in KSA adds value to Saudi economy by contributing to the development of a sophisticated digital infrastructure mandated by Vision 2030; which will ultimately attract investors and enhance the competitiveness of the Saudi economy. The IMF (International Monetary Fund) is forecasting KSA economy to expand by 1.7 percent in 2018, with predictions of a 1.9 percent growth in 2019, all of which are good indicators of the transformation and growth the kingdom is witnessing. Historically through our direct operations, we have aided governments and organisations differentiate their business by providing simple and effective solutions and outcomes. We are confident that with Al Quraishi as our local partner, this is a further step towards becoming leaders in imaging solutions across the Middle East.”
- May 2018: Canon is Leader in U.S. Copier/MFP Market
- May 2018: Canon to Bolster Video Business with Briefcam Acquisition
- April 2018: Canon Inc. Reports First-Quarter Results
- April 2018: Memjet and Canon Announce Global Cross-Licensing Agreement
- April 2018: Canon Named Worldwide Leader in High-Volume Inkjet Market
- January 2018: Canon India Expecting Printing Business to Fuel Double-Digit Growth in 2018
- January 2018: Canon CEO Reports Strong Year; Company Also Expanding into New Businesses