Japanese imaging products major Canon is targeting around Rs 3,200 crore sales in next three years as the company witnesses an overall growth in its printers and imaging products business.
Besides, the company is expanding its retail presence by almost doubling the number of Canon Image Square stores to 400 by 2019, focusing on tier II & III markets.
“We are growing 10 per cent this year and hope to continue it for the next three years. We would be around Rs 3,200 crore company by 2019,” Canon India President and CEO Kazutada Kobayashi told PTI.
He further added:” This year, we would finish around Rs 2,350 crore. Last year it was around Rs 2,158 crore.”
According to him, in 2016, camera has a healthy growing of around 8 to 9 per cent, inkjet printer would have growth of 14 per cent while office printer would have 10 per cent growth.
Presently, Canon India receives equal contribution from its business-to-business (B2B) and business-to-consumer (B2C) segments, he added.
“I want to retain this 50:50 ratio for the coming next three years,” Kobayashi added.
The company, which today launched EOS 5D Mark IV camera priced at Rs 2.54 lakh for the body, is confident to retain its control over the Digital single-lens reflex (DSLR) camera market along with its Japanese rival Nikon in India.
When asked whether new entrants as Sony would pose a challenge to their hold in DSLR market, Kobayashi said:”I do not think so. They may take certain percentage but the balance between us and Nikon of 50:50 may not be changed.”
Canon India is expanding the number of its Canon Image Square to 400 in next three years, which would not only focus on camera business but would also exhibit printers and projectors.
“The number of Canon Image square is reaching around 200. These points are also promoting photography itself… our ambition is to take it to 400 by 2019,” he said adding that “we have covered metros and next 200 shops would be expanded to tier II & III”.
It would be on franchisee model and help Canon India to tap into smaller cities and towns.