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New Delhi: Canon India Pvt Limited, India's No 1 Complete Digital Imaging Company in an attempt to take forward its commitment to the next level has announced an investment of Rs 100 crores towards enhancing its rental business as well as infrastructure to support B2B business. The strategy is to combat the current economic downturn as well as create a growth driver for its Business Imaging Solutions Division. This competitive leasing plan from Canon India is designed to assist the corporate across categories to adopt the latest technologies in document management without having to invest upfront.
Building upon the success of Indian service verticals like education, publishing, telecom & BFSI, Canon announced the launch of hi-speed mono production digital press range under award-winning imagePRESS line. The new flagship model, imagePRESS 1135 is a versatile and highly reliable product suitable for mission critical applications like large scale bill printing. With this launch Canon now offers an enhanced portfolio of 80 business imaging products and solutions.
“As an industry leader, Canon India had made investments in three demo centres called Business Solution Lounges last year. In the current downturn, sustaining operational excellence without additional capital investments has become a necessity for corporates across sectors. We at Canon have taken the lead in partnering with our customers to create a rental business model. This required higher capital infusion. Hence, we decided to invest Rs 100 crores in Canon India’s capital base“, said Mr. Kensaku Konishi, President & CEO, Canon India.
During 2008 the total market size for Digital Copier Multi-Functional Devices was 78,564 units as per IDC. Canon was ranked No. 1 with 21.4% market share. The total industry growth in 2008 was 21%. During Q1 2009, the B2B segment in India registered a de-growth of approximately 20%. On the Digital Mono Production Printing space, there are estimated 300 installations with a market size of about 100 mid and high production machines a year. The Digital Colour Printing Press industry has over mid & hi-end 200 installations and a market size of around 100 machines a year. The total market size for the above 3 categories is Rs 1000 crores.
Speaking on the occasion, Mr. Alok Bharadwaj, Senior Vice-President, Canon India said “We have observed a transformation of corporate mindset from capacity building to cash flows over the last six months. With even banks cutting back on lending, the commercial production printing segment has also been affected. In a...
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