Consumers who want to produce high quality photographs with Canon ink cartridges might wish to cast an eye on its latest innovation.

The firm is aiming to become the leading digital photography company and is therefore moving into the production photo printing sector.

It believes its new DreamLabo 5000 inkjet device should help support its efforts to expand in this market.

Ryoichi Bamba, spokesman for the company, commented: "With the DreamLabo 5000, Canon is setting a new standard for the production printing of high quality photos and high definition text."

He said the technology could open up lots of new business opportunities and revitalise the production photo printing industry.

Canon added that the release of the DreamLabo 5000 is a further step in a wider strategy of expanding its business through diversification.

The company is already enjoying a successful period right now, as it saw increased demand for office equipment across the world last year.

Canon also recorded a 15 per cent increase in the number of new patents in 2010.