March 10 (Bloomberg) -- Canon Inc. expects China’s camera market to become the world’s largest as early as 2015, overtaking the U.S., its head of the business said.
Canon, the world’s biggest camera maker, is doubling the number of outlets and boosting its marketing workforce in the Asian nation to tap the company’s fastest-growing major market, Masaya Maeda, said in an interview yesterday in Tokyo. “The China market is very vibrant and will likely drive worldwide growth in the coming years,” he said.
The maker of the EOS and PowerShot models forecasts sales volume will rise 10 percent in China this year, while growth in developed nations will likely remain small, Maeda said without elaborating. Canon’s global camera sales will increase 6.6 percent to 25.7 million units in the 12 months ending Dec. 31, the company projected in January. China accounted for about 15 percent of Canon’s camera sales in 2009, he said.
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