CANON INDIA REPORTS 49% GROWTH

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CANON INDIA REPORTS 49% GROWTH

 user 2009-07-24 at 1:39:35 pm Views: 45
  • #22421
    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.