Canon growth strategy

In its corporate strategy program, Canon is about to enter Phase III of its Global plan to achieve net sales of 5.5 Trillion yen with over 550 Billion yen in profit by 2010. It also plans to be the top 100 Global Company.

Here is their step by step plan:

􀂄 Achieving the overwhelming No. 1 position worldwide in all current core businesses
􀂄 Expanding business operations through diversification
􀂄 Identifying new business domains and accumulating required technologies
􀂄 Establishing new production systems to sustain international competitiveness
􀂄 Nurturing truly autonomous and strong individuals promoting everlasting corporate reform

As for Digital cameras, they have developed key components in devices such as their CMOS sensors and imaging engines (DigiC III). In 2006, the Canon 400D/ Rebel XTi helped push their market share from 20% in 2005 to 22% in 2006.