CANON INDIA REPORTS 49% GROWTH

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CANON INDIA REPORTS 49% GROWTH

 user 2009-07-24 at 1:39:02 pm Views: 89
  • #22592

    http://www.siliconindia.com/shownews/Canon_reports_a_49_percent_printer_growth-nid-59660.html
    Canon reports a 49% printer growth
    Bangalore: Cannon India has announced a 49 percent growth in its printer business in the first half of 2009. Even after facing global economic slowdown and credit crunch from Small and Medium Enterprises (SMEs), who are their most critical customers, the company has still managed to achieve high growth. “The company hoped to cross Rs.800 crore in overall business this year, as against Rs.665 crore in 2008.The most significant growth was witnessed in the laser printer vertical, which grew 127 percent in the first six months this fiscal even though the industry average was negative four percent. The strong growth in the laser printer segment has helped the company improve its market share in the printer vertical from eight percent in 2007 to 13 percent in 2008 and 30 percent in the first half of 2009,” said Alok Bharadwaj, Senior Vice President, Canon India.

    Bhardwaj also said that it very challenging for the company to attain higher revenues in first six months of the year but they were able to achieve their target by focusing on selected cities and the emphasis on cost-saving printers which have been in demand. “Because of the economic crunch, the B2B(business-to-business) market has been seeking cost-saving features and our main proposition to the market this year has been the cost-saving aspect”, said Bharadwaj.

    The lack or credit availability had adversely affected the sales of high end copiers, according to Bhardwaj. He says that high end copiers that are priced from Rs.50,000 to Rs.6 lakh have struggle to collect revenue while the lower end product range comprising laser printers in the price range of Rs.5,000 to Rs.50,000 have continued to show strong sales.