Canon Aims At Rs 700 Cr Revenues In India By 07

New Delhi: | Updated: Nov 11 2003, 05:30am hrs
In an aggressive plan to increase its market presence in India, the digital imaging equipment company Canon has launched 20 new products. The company announced that it was entering the second phase of its operations and aspired to achieve Rs 700 crore revenues by the end of the calendar year 2007 from present revenues of around Rs 200 crore.

Canon India also aims to secure 30 per cent market share across all its product catogories (Deskjet printers, laser printers, digital cameras, scanners and projectors). To achieve its targets, the company will be investing around $20 million on marketing and building brand image during the next four years.

India has been identified as a strategic market for Canon in Asia. Over the last 5 years (Canon India started its direct operations in 1997), we have invested heavily in building our organisational presence here and I am confident that our Indian team will be able to further accelerate their high growth trajectory as they enter into the second phase of India operations, Canon Asia marketing group president Y Adachi said. He was in India to address the Canon Leadership Summit organised by the company to mark the beginning of its second phase of operations. The event was attended by the companys customers and channel partners.

The 20 new products launched by Canon last week include 6 Bubble Jet (also called deskjet) printers, 2 Scanners, 2 flatbed multi-functional devices (MFDs), 5 digital still cameras and digital camcorders, 1 Projector, 2 laser beam printers and 2 dye-sublimation printers. The products are priced between Rs 3,995 and Rs 2,75,000.

Canon also announced the introduction of a new international standard called PictBridge and claimed to be the first company to bring PictBridge in India. Pictbridge compatible photo printers and cameras enable direct print from digital cameras and videos irrespective of their different brands. This would mean that a Pictbridge camera of Canon can directly be connected with a printer of any other brand.

Canon India plans to expand its distribution channel by adding more than 200 dealers during the next two years.

The company currently has around 280 dealers. It is also planning to open nationwide digital photo studios under the brand name of Canon Digifotozone.

(Travel for this story was sponsored by Canon India)