Epson is understood to have contacted both media agencies and creative agencies with a brief to market its existing printer products as well a smart watch that the company is developing. Epson is owned by Seiko Group, a Japanese company renowned for its watches.
Epson approached media agencies directly this week with the brief, with a spend of around £5 million a year. Carat Enterprise is the incumbent on the offline media planning and buying account.
Epson previously used Albion London for its creative work, but the pair parted ways over a conflict. Albion won the Epson’s pan-European ad account in 2009 after a competitive pitch against CMW and McCann London.
A spokesman for Albion said in a statement: "Albion has been delighted to work with Epson over the past four years.
"Due to some ambitious and potentially competitive new business projects we are currently working on we have decided not to work with Epson in the immediate future. We wish Epson every success and would like to thank them for the opportunity to work with them."
A spokeswoman for Epson would not comment.