CANON TO LAUNCH 40 NEW PRODUCTS IN INDIA BY JUNE 2010

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CANON TO LAUNCH 40 NEW PRODUCTS IN INDIA BY JUNE 2010

 user 2010-03-29 at 10:59:20 am Views: 57
  • #23839

    http://economictimes.indiatimes.com/news/news-by-industry/cons-products/electronics/Canon-to-launch-40-new-products-in-India-by-June/articleshow/5711951.cms
    CANON TO LAUNCH 40 NEW PRODUCTS IN
    INDIA BY JUNE 2010

    NEW DELHI:
    Japanese office automation and imaging giant Canon would launch 40 new
    products, including a wide range of digital cameras andprinters, in the
    Indian market over the next three months, a company official said.”We
    are launching 40 new products by June. These include digital cameras,
    video cameras, printers and copiers. At present, we have 148 products.
    These new launches will replace older ones,” Canon India senior vice
    president Alok Bhardwaj said.”We will also launch this week a new range
    of document machines — a multi-functional device combining a scanner,
    printer and photocopier in a single equipment,” Bhardwaj said in New
    Delhi.”These document machines are targeted basically for office users.
    These are like multi-functional devices. A single machine can perform
    various tasks.”

    The $45 billion company has tied up with 13
    retail chains to sell its products and set up 14 service centres, up
    from 10 at present.Canon also hopes to beat Nikon in the 50,000-unit
    market for single-lens reflex (SLR) cameras in India with a 55-percent
    marker share.”In the compact digital camera market, which will be two
    million units market in India this year, we are eyeing a 25-percent
    share,” said Bhardwaj.

    The Indian arm of the company, a
    wholly-owned subsidiary of Canon Singapore, has set a target of Rs 1,100
    crore ($345 million) in revenues this year, against Rs 840 crore ($185
    million) in 2009.From the cameras segment alone, the company is looking
    at a turnover of Rs 450 crore ($100 million) this year, up from Rs 300
    crore ($65 million) it earned in 2009 from the segment.Around 20 per
    cent of the company’s earnings come from the sale of projectors,
    printers and cameras to the Indian government. “We see this going up to
    25 per cent this year.”

    The company also forayed into the Rs 150
    crore ($33 million) surveillance camera market in India six months ago.
    “Since we have just entered, we are eyeing only a one percent share in
    this market,” said Bhardwaj.Canon has also launched in India two cameras
    targeting Internet users with high zoom and infrared features. It is
    also in talks with system integrators like HCL and Wipro for software
    and marketing of these products.