Canon Middle East's sales increased by more than 35 per cent for 2002, maintaining consistent growth that has seen its business doubling in the last three years. The company has seen strong uptake of its new networked digital office products and IT solutions, as well as considerable growth in its digital and still video camera business. It observed that the results made Canon Middle East the fastest growing region for Canon worldwide in 2002.

Globally, the company has reported its third consecutive year of strong sales and profit growth with fiscal year 2002 consolidated net sales of $24.5 billion, and year-on-year net income increasing 13.8 per cent.

Product growth has been driven by strengthening demand for the new generation of digital and multifunctional products (both consumer and office solutions). The Image Runner (iR) range of networked digital multifunction devices grew by an enormous 132 per cent, with document management systems showing similar success with 120 per cent growth.

There was also a notable increase in sales of Canon digital still and video cameras (more than 100 per cent growth) and scanners (110 per cent). Canon's printer sales grew by an impressive 25 per cent in a much more mature and competitive market.

In terms of country performance, figures were strongest in the UAE, Saudi Arabia and Iran. Egypt still had a successful year, despite a difficult economic situation. There was steady growth across the other GCC and Levant markets.

"Canon is very pleased with the progress made in 2002, and also optimistic about 2003, which has already started very impressively. While the current political situation in the region is causing a measure of apprehension, sales are buoyant, and there is still a great deal of opportunities in this market," said Gordon Jones, president of Canon Middle East.