*NEWS*CANON EXPECTS 30% GROWTH IN CHINA

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*NEWS*CANON EXPECTS 30% GROWTH IN CHINA

 user 2005-10-26 at 12:28:00 pm Views: 66
  • #14364

    Canon expects a 30 per cent growth in Indian revenues
    Oct.05
    Betting
    big on growth in the digital camera market, digital imaging major Canon
    on Thursday said it expected a 30 per cent growth in Indian revenues in
    2006 to Rs 4 billion (US$88.7 million).
    The company, which is in the
    process of revamping its sales and distribution pattern, also plans to
    introduce a slew of new products in the market which it hopes to expand
    on the back of healthy economic growth and rising consumer spending.
    “India
    is one of the fastest growing economies in the world and we hope to
    ride the boom,” Canon India president and CEO Alan Grant told reporters
    here after launching 43 new products across a variety of segments.
    Canon
    offers a range of products in India that include copiers, printers,
    facsimile machines, digital cameras and camcorders, scanners and
    projectors.
    Canon, which imports its products from locations like
    Japan, China, Malysia, Vietnam and Taiwan, expects to clock revenues of
    Rs 3.10 billion this year against Rs 2.64 billion in 2004.
    Grant
    said the digital camera market was growing exponentially, witnessing a
    massive 328 per cent growth in the nine months of 2005. “We feel that
    the consumer shift is clearly towards digital cameras. The segment
    contributed four per cent to our revenues in 2004 which which is
    expected to rise to 18 per cent this year and 25 per cent in 2006,”
    Grant said.