2022Q2 HCP Market Presentation

ASEAN, Hong Kong, India

October 2022
Agenda

• Overview

• Philippines

• Thailand

• Indonesia

• Vietnam

• Malaysia

• Singapore

• Hong Kong

• India

© IDC | 2
Where it all started

Logistics and shipping cost both

On-going supply shortages Price increase on hardware
domestic and international continue
including raw materials including supplies and parts
to rise

Price increase on basic Purchases/investments will Printer preference will change

commodities focus on essential

Price increase on non-basic Demand will decline affecting Cost-cutting measures on under
commodities profit/revenue utilized office equipment

© IDC | 3
 How are they coping up
Tourism
Consumer (Indonesia,
Recovery Philippines,
Thailand, Hong
Kong, Korea)

Full Agriculture/ Manufacturing

Monitoring Digital
reopening Foreign Mining (PRC, Vietnam, Economy
tax and
interest rates of Investments
(Australia,
China, Taiwan,
(Singapore,
Korea,
economy New Zealand) Indonesia)
India, Korea)

GOVERNMENT
MSME/Domestic/
Supply Export
management (Bangladesh, Sri
Lanka)

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HCP market at a glance
Asia Pacific Total Inkjet & Laser
4.5 2450.0

2400.0
P- Prioritization
R - Reopening
4.0

2350.0
3.5
Total Unit Shipments in millions

I - Innovation
2300.0
3.0

Value US$M
2250.0
2.5

N - New projects
2200.0
2.0
2150.0
1.5

T - Transition
2100.0

1.0
2050.0

0.5 2000.0

0.0 1950.0
2021Q2 2021Q3 2021Q4 2022Q1 2022Q2

Inkjet Laser Value

Excluding Japan & Laser Fax-based

Source: IDC Asia/Pacific Hardcopy Peripherals Tracker, 2022Q2 © IDC | 5

Philippines

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Philippines: Economic and Inflation Overview
GDP Year-On-Year Growth
Laser
14.0%
12.1%
12.0%

10.0%
7.8% 8.2%
7.0% 7.4%
8.0%

6.0%

4.0%

2.0%
Transport services – 18.1% Alcoholic beverages & tobacco Furnishings, household
0.0% – 8.5% equipment & routine household
2021Q2 2021Q3 2021Q4 2022Q1 2022Q2 maintenance – 3.1%

Inflation Rate
7.0% 6.4%
Inkjet
6.1%
6.0% 5.4%
4.9%
5.0% 4.4% 4.2%
4.0% 4.0%
3.7% 3.7%
4.0% 3.1% 3.0% 3.0%
3.0%

2.0%

1.0%

0.0%

Restaurants & accommodation Food & non-alcoholic beverages – Clothing & footwear – 2.5%
services – 3.4% 6.9%

Note: Percentage among industries shows YoY inflation growth vs July 2022
Source: Philippine Statistics Authority
© IDC | 7
 Philippines Laser Copier HCP: -11.1% YoY decline
5

1.3
Unit Shipments (‘000)

4 0.7
0.5
3 1.0 0.5
0.0 0.7
0.3 0.8
1.1 0.7
0.5
2 0.5
1.5 0.2
0.1 0.7 0.3 1.0
0.1
1 0.7 0.5 0.6
0.3 0.3
1.0 1.1
0.7 0.5 0.6
0
2021Q2 2021Q3 2021Q4 2022Q1 2022Q2

Fujifilm Kyocera Document Solutions HP Develop Ricoh Others

100%
21.7% 15.9%
26.0% 27.3% • Fujifilm recovered on their stock situation which helped them fulfill pending projects from
80% 38.9% 10.4%
15.3% 10.6%
government, dealers were also able to get stocks for low end models
Market Share

19.4% 15.1%
60%
0.4% 7.3% 16.1%
• Kyocera improved after the production delay due to lockdown in China, back orders over the
5.7% 2.7% 22.7% 9.4%
4.6% previous quarter were fulfilled with demand mostly minimal from SMBs and government
40% 18.9%
29.1% 24.3% 15.2% 21.8% • HP had better allocation for copier with shortages more manageable, they were able secure
20% 10.1%
9.2% opportunities from private industries and government
25.1%
19.3% 22.2%
15.0% 20.1% • Develop started to bring in stocks after minimal orders in 2021, demand remains to be a
0% combination of small quantity deployments
2021Q2 2021Q3 2021Q4 2022Q1 2022Q2
• Ricoh continue to face stock issues across all their SKUs but their mid to high-speed segment is
Fujifilm Kyocera Document Solutions HP Develop Ricoh Others more affected, focusing on lower segment for the meantime for both direct and indirect

Product
2020Q1 2020Q2 2020Q3 2020Q4 2021Q1 2021Q2 2021Q3 2021Q4 2022Q1 2022Q2
Detail
Color 18% 19% 16% 10% 20% 17% 23% 23% 26% 26%
Mono 82% 81% 84% 90% 80% 83% 77% 77% 74% 74%

© IDC | 9
Thailand

© IDC | 10
Thailand: Economic and Inflation Overview
2022 Consumer Price Index
7.8%
8.0% 7.7% 7.6%

7.1%
7.0%

6.0%

5.0% 4.7%

4.0%
April May June July August

Higher cost
of imported
products

Baht vs US Global
Dollar energy prices
External
Factors

Geopolitical US interest
tensions rate hike

© IDC | 11
 Thailand Laser Copier HCP: -8.2% YoY decline
9
8 0.9
Unit Shipments (‘000)

0.6
7 0.8 0.4
0.9 0.6
6 0.7 1.3 0.8 0.3 0.3
0.8 0.3 0.3
5 0.4
0.3
0.8 1.2 1.6
4 1.1
3.3
3 2.0
2.7 1.9
2.1
2
1 2.2 2.3 2.0
1.6 1.6
0
2021Q2 2021Q3 2021Q4 2022Q1 2022Q2

Fujifilm Ricoh Canon Sharp Kyocera Document Solutions Others

100%
11.0% 10.5% 12.7% 13.0% 8.5%
6.4% 4.8% • Fujifilm saw improvement in their commercial clients from both indirect and direct channels,
9.5% 6.7% 4.8% 5.1%
80% 4.5% 4.9% 4.3%
10.5% 14.6%
wants to focus on selling color machines
17.1% 23.6%
Market Share

11.2% 17.9%
60% • Ricoh had enough stock for their lower speed models to offer to their existing clients like
28.1% government and BFSI, shortages in their mid to high segment continues
38.6% 32.6% 28.2%
40% 36.5% • Canon stocks recovered after the shortage from last year and quarter, renewals from their
20%
existing clients coming back gradually
32.8% 29.7%
21.3% 25.3% 25.1% • Sharp continue to experience shortages, maximizing current allocation by maintaining existing
0% customers
2021Q2 2021Q3 2021Q4 2022Q1 2022Q2
• Kyocera stock situation saw little improvement unlike copier, mostly for run rate and small
Fujifilm Ricoh Canon Sharp Kyocera Document Solutions Others requirements

Product
2020Q1 2020Q2 2020Q3 2020Q4 2021Q1 2021Q2 2021Q3 2021Q4 2022Q1 2022Q2
Detail
Color 52% 49% 48% 46% 48% 51% 50% 52% 56% 56%
Mono 48% 51% 52% 54% 52% 49% 50% 48% 44% 44%

Source: IDC Asia/Pacific Hardcopy Peripherals Tracker, 2022Q2 © IDC | 12

Indonesia

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The Inflation Impact to HCP market
Indonesia Inflation rate Global food price increase to domestic price is
unbearable
6.0 Food Imported volatile food has been rising prices 43%
5.0 4.9 price
4.0
4.4 increase
3.5 3.6 HCP Consumer Products
3.0
2.6
2.0
1.8 1.9
2.2 2.1 • Slower demand for printer
1.6 1.6 1.7
1.0
Gov • Price increment trend continue
0.0 Program • Low level confidence from partner

HCP Commercial Products

Top 5 inflation sector (June to July) Office • Corporate and SMB control on spending
Printing
1.4% • Government will be main vertical to approach
1.2%
Impact
1.2% 1.1% • Contract extension with same device installed
1.0%

0.8% HCP Printer base ASP (YoY)

0.6% 0.5%
0.3% 0.3% Product 2021Q1 2021Q2 2021Q3 2021Q4 2022Q1 2022Q2
0.4%

0.2% Inkjet -2.5% 41.6% 33.7% 33.8% 13.7% 2.5%

0.0% Laser 40.5% -22.8% 16.9% -0.2% -38.5% 39.4%
Food, Beverages and Transportation Housing, Water, Education Serving and
Tobacco Electricity and Gas services/Restaurant

Source: IDC Asia/Pacific Hardcopy Peripherals Tracker, 2022Q2 © IDC | 15

 Indonesia Laser Copier HCP: -30.5% YoY decline
4

0.5
Unit Shipments (‘000)

3 0.1
0.1
0.2
0.7 0.3 0.3
2 0.3 0.2
0.2 0.2
0.3 0.2
0.3
0.4
0.2 0.4 0.8
1 2.1 0.1 0.2
0.1 0.2
0.5 0.2 1.0
0.2 0.8
0 0.3 0.3
2021Q2 2021Q3 2021Q4 2022Q1 2022Q2

Canon Fujifilm HP Konica Minolta Kyocera Document Solutions Others

100%
14% 14% 14% • April – May was holy month and Hari Raya, effective month only in June
3% 25% 24%
80% 2% 11% 7%
4%
7% 9% • Government and manufacturing project was contributed to Q2 shipment
Market Share

20% 12% 15% 9%

60% 9%
13%
13% • Canon shipment mainly for government and manufacturing deals, the pending shipment
6% 30% due shortages
17%
40% 15%
29% • Fujifilm shipment mainly to fulfilled backlog order, the actual demand is weak in Q2
57% 14%
20% 38% 33% • HP demand slower and no bulk deal, focusing on variety of verticals
19% 20%
0%
• Konica Minolta deployed machines for government project although remained shortages
2021Q2 2021Q3 2021Q4 2022Q1 2022Q2 • KDS shipment mainly of backlog orders and to prepare for government project
Canon Fujifilm HP Konica Minolta Kyocera Document Solutions Others

Product
2020Q1 2020Q2 2020Q3 2020Q4 2021Q1 2021Q2 2021Q3 2021Q4 2022Q1 2022Q2
Detail
Color 25% 19% 38% 16% 32% 15% 29% 28% 27% 38%
Mono 75% 81% 62% 84% 68% 85% 71% 72% 73% 62%

Source: IDC Asia/Pacific Hardcopy Peripherals Tracker, 2022Q2 © IDC | 16

Vietnam

© IDC | 17
Vietnam: Economic and Inflation Overview
Vietnam Inflation rate YoY CPI % changes in 11 main consumer goods groups
4 25.0% 21.4%
3.4
3.5 3.1
2.8 2.9 20.0%
3 2.6
2.4
2.5 2.1 2.1 15.0%
1.8 1.9
1.8
2 1.4 10.0%
1.5 3.4% 3.4%
5.0% 3.2% 2.3% 2.2% 2.0% 1.5% 1.5%
1 0.4% -2.1%
-0.5%
0.5 0.0%
0 -5.0%

Vietnam Consumer Price Index (CPI)

110
108.9
Effects of inflation
109 108.4
107.7
108 107.1 107.3
107 106.3 •On July 6, Vietnam's national approved on a plan to cut environment tax fuel by half for
105.8
106 105.1 104.9 105.3 105.1 105.3 the second time in three months as soaring energy prices put pressure on inflation.
105
•Prices for restaurant and catering services increased by 1.05% and food by 1.33% in
104
which pork prices rose by 4.95% rising animal feed prices.
103
•Education rose by 1.46% as some provinces and cities under the central management
102
increased school fees for 2022 and 2023.

© IDC | 18
 Vietnam Laser Copier HCP: 12.9% YoY Growth
4
0.5 0.4
0.3
Unit Shipments (‘000)

0.4 0.3
3 0.4 0.3
0.5 0.6 0.9 0.4 0.3
0.3 0.3 0.4
0.1
2 0.4 0.4 0.4 1.1 0.6
0.5 0.8
0.5 1.1
1
1.3 1.6
0.9 1.0
0.6
0
2021Q2 2021Q3 2021Q4 2022Q1 2022Q2

Canon Fujifilm Ricoh HP Konica Minolta Others

100%
16.4% 10.8% 14.2% 11.1% 9.3% • The shipment increased in preparation in next quarters
7.0% 7.9%
80% 16.0%
11.3%
23.8% 9.4% 9.9% • New models should be launched and imported in the next months, EOL models now limited in
7.2%
Market Share

13.4% 10.3% 10.6% the market except for project

60% 12.4% 3.0%
15.9% 11.9%
28.7%
17.3% • Canon shipment mainly for government, banking and education
40% 23.9%
14.9% • Fujifilm fulfilled backlog order, support direct sale team with promotion
30.2%
20% 45.1% • Ricoh had shortage in April and May but recovered in June, planned to deliver to tenders next
33.6%
28.0% 29.6%
16.9%
quarter
0% • HP experienced slower enterprises and project demand, shipment for run rate through partners
2021Q2 2021Q3 2021Q4 2022Q1 2022Q2
• Konica Minolta also experienced demand dropped due to low season from all verticals
Canon Fujifilm Ricoh HP Konica Minolta Others

Product
2020Q1 2020Q2 2020Q3 2020Q4 2021Q1 2021Q2 2021Q3 2021Q4 2022Q1 2022Q2
Detail
Color 13% 9% 18% 10% 12% 11% 5% 10% 8% 10%
Mono 87% 91% 82% 90% 88% 89% 95% 90% 92% 90%

Source: IDC Asia/Pacific Hardcopy Peripherals Tracker, 2022Q2 © IDC | 20

Malaysia

© IDC | 21
Malaysia: Copier ASP Changes and Impact
USD/MYR Exchange Rate (01/08/21 -
Color ASP Growth Mono ASP Growth 4.5 30/06/22) 4.450
(2021Q3-2022Q2) (2021Q3-2022Q2)
4.4
3.0% 4.0% 3.7%
2.5%
4.3
4.226
4.2
2.0% 3.0%
1.6%
4.1
2.2%
1.1%

1.0% 0.8% 2.0%

1.6%
Source: The EDGE Malaysia, IMF, CEIC, DBS Source: BNM
0.2%
0% 0.0%
0.0% 1.0% 0.7%
2021Q3 2021Q4 2022Q1 2022Q2 0.5%
(Base
Quarter) 0% 0.0%
-1.1% -0.2%
-1.0% 0.0%
2021Q3 2021Q4 2022Q1 2022Q2
(Base -0.8%
-1.8%
Quarter)
-2.0% -1.0%

Color Laser 11-20 ppm Mono Laser 1-20 ppm

Color Laser 21-30 ppm Mono Laser 21-30 ppm

Color Laser 31-44 ppm Mono Laser 31-44 ppm

Between a period of 2021Q3-2022Q2, the Laser Copier segment has seen

an increase in price which has reversed the declining trend for 11-20ppm.

Source: IDC Asia/Pacific Hardcopy Peripherals Tracker, 2022Q2 © IDC | 23

 Malaysia Laser Copier HCP: 10.6% YoY Growth
6

5
Unit Shipments (‘000)

1.2 1.2
0.8 1.0
4 0.8 0.6
0.4 0.5 0.4
0.4 0.8 0.6 0.5 0.6
3
0.7 0.9
0.7 1.0 0.7
2 0.8
1.0 1.2 1.0
0.8 1.3
1
0.9 1.0 0.9 1.2
0.7
0
2021Q2 2021Q3 2021Q4 2022Q1 2022Q2

Canon Fujifilm Ricoh Toshiba Konica Minolta Others

100%
18.3% 23.4% 15.7% 21.9% 20.6% • Vendors have overall been affected by the restrictions in China leading to lower stock in 2022Q2
80% 10.3%
9.8%
7.9% 10.4% 8.7% • Demand remained stable despite stock shortage for both new and refurbished machines
Market Share

12.1% 11.5%
60% 16.6% 14.6% 10.3% • Canon higher shipments this quarter due to project fulfilment, largely towards finance sector
21.3% 13.8%
17.5% 14.5% 17.6% • Fujifilm experienced low demand but expecting improvement for 2022H2, though still affected
40%
20.3% by supply shortage
17.6% 19.6% 26.6% 22.3%
20% • Ricoh was heavily affected by restrictions in China, also faced cost pressures from strong USD
25.1%
20.2% 20.0% 13.9% 17.5% • Toshiba has been affected by supply situation for the past few quarters
0%
2021Q2 2021Q3 2021Q4 2022Q1 2022Q2
• Konica Minolta witnessed a bounce back in the market, but supply is affecting their ability to
be aggressive, currently reorganizing management of office portfolio to better fit with solutions
Canon Fujifilm Ricoh Toshiba Konica Minolta Others

Product
2020Q1 2020Q2 2020Q3 2020Q4 2021Q1 2021Q2 2021Q3 2021Q4 2022Q1 2022Q2
Detail
Color 57% 55% 64% 59% 60% 58% 50% 64% 62% 61%
Mono 43% 45% 36% 41% 40% 42% 50% 36% 38% 39%

Source: IDC Asia/Pacific Hardcopy Peripherals Tracker, 2022Q2 © IDC | 24

Singapore

© IDC | 25
Trends Observed in the Market

Lower consumer Higher reliance on Flexible business

Reduced fleet size
demand projects offerings

Changes in priority of Retail Sales -7.4% MoM, Shared workspaces and Negotiations on contract
spending +0.1% YoY in Computer and downsizing of offices duration
Telecommunications
Equipment

Image: CNA, Freepik Reference: SingStat

© IDC | 27
 Singapore Laser Copier HCP: 13.3% YoY Growth
4
Unit Shipments (‘000)

3
0.6 0.4
0.6 0.2 0.5 0.2
0.5 0.3
2 0.5 0.2
0.2 0.2 0.4
0.4 0.1 0.4 0.3
0.1 0.0 0.1
0.9 0.8
1 0.7 0.7 0.9

0.6 0.7 0.8 0.8

0.6
0
2021Q2 2021Q3 2021Q4 2022Q1 2022Q2
Canon Fujifilm HP Ricoh Kyocera Document Solutions Others

100% • Canon faced shipment challenges but tried to keep a higher stock level so things can be done locally
19.1% 18.8% 20.0% 14.0% to meet demand, growing demand compared to Q1, but PV is dropping
24.4%
80% 6.2% 7.7%
6.1%
7.5% 6.4% 10.2% • Fujifilm stock is still low with improvement but insufficient to meet demand which is back since the
Market Share

15.9% 15.4% 10.5% beginning of Q2

60% 15.0% 1.4% 3.8% 12.3%
2.7%
3.4% • HP Q2 surge in copier shipments due to HDB tender, 80% is HDB shipments, 20% medium
40% 28.3% 35.9% 27.3% enterprises
27.3% 30.8%
• Ricoh was having ongoing chip shortage issue, but better this quarter due to higher allocation of LT
20% series especially for lower speed models
23.9% 24.0% 30.0% 23.4% 28.6%
0% • Kyocera had some shipments in Q1 that showed up in Q2 due to shipment delay earlier, model
2021Q2 2021Q3 2021Q4 2022Q1 2022Q2 refresh done in Q1 after VITAL testing, demand improved in Q2 for government and SMB
Canon Fujifilm HP Ricoh Kyocera Document Solutions Others

Product Detail​ 2020Q1​ 2020Q2​ 2020Q3​ 2020Q4​ 2021Q1​ 2021Q2​ 2021Q3​ 2021Q4​ 2022Q1​ 2022Q2​

Color​ 75%​ 77%​ 75%​ 79%​ 77%​ 77%​ 78%​ 80%​ 80%​ 73%​

Mono​ 25%​ 23%​ 25%​ 21%​ 23%​ 23%​ 22%​ 10%​ 20%​ 27%​

Source: IDC Asia/Pacific Hardcopy Peripherals Tracker, 2022Q2 © IDC | 28

Hong Kong

© IDC | 29
Hong Kong: Economic and Inflation Overview
Hongkong Inflation rate Hongkong GDP YoY Growth
3 10%
7.6%
2.4 8%
2.5
5.4%
1.9 6% 4.7%
2 1.8 1.8
1.7 1.7
1.6 1.6 4%
1.4
1.5 1.3
1.2 1.2 2%

1 0% -1.3%

0.5 -2%
-3.9%
-4%
0

-6%
2021Q2 2021Q3 2021Q4 2022Q1 2022Q2

Hong Kong’s annual inflation rate rose to a seven-month high of 1.9% in July of 2022 From the year-on-year base, Hong Kong economy experienced two consecutive
from 1.8% in the previous month, just 0.1% shy of market expectations. Main price quarters of negative growth, slipping back into recession. As a result, Hong Kong's
increases were recorded for electricity, gas and water (15.1%); clothing and footwear economy contracted 2.6 per cent in real terms through the first half of 2022
(6.5%); basic food (5%)

Purchasing is Significant negative GDP declining result GDP shrink lead the
Cost of living
Enterprise and SMB shifting to lower impact from the 5th in chain reaction, MNC enterprises
increase which
users' operation price and lower wave pandemic to such as increasing lose confidence in
impact the
cost increasing speed products in GDP growth, in unemployment, Hong Kong which is
purchasing on IT
which impact IPDS market, even especially in Q1, but investment another negative
device from home
purchasing budget some project is the effect continue confidence impact for Hong
users
pending to Q2 too decrease Kong economy

© IDC | 30
Looking for positive chances to compete negative impact
Negative Impact Positive Chances

The interest rate Hong Kong Many Hong Kong Hong Kong There are still Retail,
rise of the US dollar residents began to government some entertainment
government
drives the Hong emigrate to launched the infrastructure and events
Kong dollar, which hasn’t opened overseas countries, "Budget" that in
the custom with project in on recovery gradually
leads to the decline which caused brain order to stimulate
going or re-start in Hong Kong
of stocks, the rise of most countries, drain and consumption, gave
mortgage interest recruitment every eligible in 22Q2 after the from 2022Q2,
especially with worst situation which will
rate, the negative problems for person Distribute a
China mainland, effect from stimulate the
impact on personal enterprises and total of 5,000 yuan
consumption and which has employers, affected in consumer pandemic in Q1, printing volume
investment, and the signification the economic vouchers. Which which drive the somehow such as
impact on corporate negative impact development of can buy good demand in some PV for
financing for many Hong Kong to a including IT device, related industry propaganda
certain extent printer as well. purchasing too materials.
industries

© IDC | 31
 Hong Kong Laser Copier HCP: 14.8% YoY Decline
7

6
0.6
0.8 The 5th wave pandemic Closure from school
Unit Shipments (‘000)

1.0 0.4 Custom not open yet

5 0.7 0.8 0.5 0.6
1.6 0.7 0.7
4 1.2
1.4
1.3 1.1
3 0.8 0.8 0.7
0.9 0.9
2 1.1 1.1 1.2
0.7 1.0
1 1.6 1.5 1.3 1.2 1.1
0
2021Q2 2021Q3 2021Q4 2022Q1 2022Q2
Ricoh Canon Kyocera Document Solutions Fujifilm Konica Minolta Others

100%
14% 9% 6% 10% 12% • Short of supply is continue in Q2, demand shifting from new machine to secondhand market
15% 14% 14% • Impact from the 5th wave COVID-19 until April, hasn’t open the custom from China mainland
80% 11% 13%
Tender purchasing from government and education is quite less than previous quarter
Market Share

18% 24% 21%

•
25% 24%
60%
• Ricoh had less tender and project in Q2 comparing with last year
13% 11%
13% 16% 16%
40% • Canon PV centralization impact the high-speed copier MFP instead some A4 laser MFP which is
18% 21% serious short supply now
16% 13% 18%
20% • Kyocera have new sales with experience and source from competitors
26% 22% 23% 23% 20%
0%
• Fujifilm top management had reorganization in Q2 which impacted the market share declining
2021Q2 2021Q3 2021Q4 2022Q1 2022Q2 • Konica Minolta had no tender from education industry which KM have advantage in previous

Ricoh Canon Kyocera Document Solutions Fujifilm Konica Minolta Others

Product
2020Q1 2020Q2 2020Q3 2020Q4 2021Q1 2021Q2 2021Q3 2021Q4 2022Q1 2022Q2
Detail
Color 81% 82% 78% 79% 83% 83% 83% 86% 88% 85%
Mono 19% 18% 22% 21% 17% 17% 17% 14% 12% 15%

Source: IDC Asia/Pacific Hardcopy Peripherals Tracker, 2022Q2 © IDC | 32

India

© IDC | 33
India – Economic Indices
India becomes the 5th Largest economy, IMF further revises India’s GDP forecast
forecasted to become the 4th largest by for FY22 and FY23;
2027 India still placed better

© IDC | 34
India: Economic and Inflation Overview
Depreciation of Indian Rupee (INR) Retail inflation surges to 8-year high of 7.8% in April
USD vs INR, 2022 8.0% 7.8%

80
79.0 7.5%
79 78.4 7.0% 7.0%
7.0%
7.0%
78
76.6
77 6.5%
6.1%
1 USD = X INR

6.0%
76
74.9 74.9 6.0%
74.7 5.6%
75 74.2
73.8 5.5%
74
4.9%
5.0%
73
4.5%
72 4.5%

71
4.0%
Jan 1st Feb 1st Mar 1st Apr 1st May 1st June 1st July 1st Aug 1st
Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22

Impact of USD exchange rate fluctuations

• Retail inflation in India surged to 7.79% on an annual basis in April
3 to 10% Selling price hikes from Epson, HP, Brother, and Canon owning to higher edible oil & fuel prices

10 to 20% Import price hikes • Soaring global commodity prices have kept retail inflation above the
RBI's 6% upper tolerance range so far this year. A weakening rupee
has exacerbated the issue further
INR depreciation and rising inflation spread negative sentiments among
channel partners and consumers

© IDC | 35
 India Laser Copier HCP: 82.0% YoY Growth
35

30
Unit Shipments (‘000)

2.7
2.3 2.7 3.7
25 2.6 4.1 1.7
3.1 4.6 4.8
20 1.9
6.3 3.2
15 7.2 4.9
2.4
1.2 6.2 3.3
1.3 3.9
10 2.5 1.9 5.9
2.8
5 9.8 8.2 10.4
5.7 6.6
0
2021Q2 2021Q3 2021Q4 2022Q1 2022Q2
Canon Kyocera Document Solutions Konica Minolta HP Sharp Others

100%
15% 8% 9% 13% • The market improved drastically from last year due to improved stock availability
16%
9% 9% 6% • While most of the vendors are still struggling with availability of some popular models but the overall
80% 7% 11% 7%
8% 12%
15% 17% situation has improved
Market Share

60% 16% 22%

17% • The demand from all segments improved, particularly from large enterprises which declined last
24% 24%
17%
quarter
40% 14% 12%
8%
20% • Canon did well with backorders fulfilled, new color model launched is going well
20% 36%
• HP large enterprise business outperformed their enterprise business as there was piled up
36% 35% 32%
22% requirement that fulfilled in Q2
0% • Konica Minolta challenges from China continue in terms of shipment delivery
2021Q2 2021Q3 2021Q4 2022Q1 2022Q2
• KDS is currently struggling with availability of stocks for its top models
Canon Kyocera Document Solutions Konica Minolta HP Sharp Others

Product
2020Q1 2020Q2 2020Q3 2020Q4 2021Q1 2021Q2 2021Q3 2021Q4 2022Q1 2022Q2
Detail
Color 14% 11% 11% 14% 12% 15% 13% 15% 13% 15%
Mono 86% 89% 89% 86% 88% 85% 87% 85% 87% 85%

Source: IDC Asia/Pacific Hardcopy Peripherals Tracker, 2022Q2 © IDC | 36

For Additional Information:
Mohit Raizada – mraizada@idc.com
Rino Rivaldi – rrivaldi@idc.com
Lilibeth Agudo – lagudo@idc.com
Sok Yan Leong – syleong@idc.com

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