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Canon India targets 25% growth in 2005
New Delhi: Announcing the year 2005 as its
‘Year of expansion’, Canon India Pvt Ltd said it aims to close the year with a
revenue of Rs 330 crore.In 2004, the company had posted a 15 per cent
increase in gross turnover to Rs 264 crore. “In India, we want to become number
one in three areas — digital camera, Copier and Printer,” Canon India’s CEO and
President Alan Grant said.In the digital cameras segment, Canon
currently has a marketshare of 10 per cent which it aims increase to 17 per cent
this year. “The digicam business is the engine of our growth and will contribute
25 per cent to Canon India’s revenue by 2007,” said Grant.Canon will be
investing Rs 2 crore for marketing PIXMA, its inkjet printers and
multifunctional range of printers. Among inkjet printers, Canon is number two
with 22 per cent marketshare.The company sees projectors and Home Cinema
business as a key growth area and has embarked upon a plan to set up home cinema
centres in 18 cities. “Outside Japan, India is the second largest potential
market for Canon,” said Yukio Yamash*ta, Senior Managing Director for Canon Inc.
Commenting on the global performance of Canon Inc, Yamash*ta said “We posted
sales revenue of US dollar 33.35 billion in 2004 with digital cameras
contributing US dollar 14 million.”Elaborating on Canon India’s plan to
push online sales channel, Grant said “One of the focus areas for 2005 is to
sell our products through online site ‘canon.co.in’ and through portals like
Yahoo & MSN. We have allocated Rs 40 lakhs to market the online marketing
efforts.” The company will also invest Rs 20 crore in brand building exercise
during the year. Canon India is a 100 per cent subsidiary of Canon Singapore
private Ltd. In India, Canon has 281 channel partners, 25 retail stores and 100
service centres.
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