Canon is closing its only remaining manufacturing site in the Philippines this June. The plant is in Batangas and makes laser printers. Around 1,400 people work there, and they will be affected by the shutdown.
The company said fewer people are buying office laser printers these days. Work habits have changed, and more businesses are going digital. Those are the main reasons behind the decision.
Canon has already stopped making laser printers in China. The Batangas laser printer plant closure is part of a bigger move to shrink its laser printer business around the world.
Even though laser printers are still one of Canon’s big product lines, sales have not been great. The company’s latest yearly report showed that laser printer sales went down by 4.6% compared to the year before. Demand was especially weak in Europe and China.
Canon also said the printing market is old and will likely keep getting smaller over time.
So what is Canon focusing on now? Inkjet printers, digital printing for businesses, industrial products, and cloud based office services. The company has also talked about making more high capacity inkjet printers.
Take note that the closure only affects the Batangas factory. Canon Marketing Philippines, which handles sales and customer support in the country, will keep running like normal.
Source: Asia Nikkei