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Canon eyes Rs1,100 cr turnover in ‘10 driven by new launches

Canon eyes Rs1,100 cr turnover in ‘10 driven by new launches
PTI
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First Published: Tue, Mar 23 2010. 05 13 PM IST
Updated: Tue, Mar 23 2010. 05 13 PM IST
New Delhi: Japanese digital imaging and camera company Canon on Tuesday said it is eyeing a 30% increase in its turnover in India this year to Rs1,100 crore on the back of new launches and heightened focus on the printer business.
The company today launched seven new models of its A3 multi-functional copiers built on ImageRunner Advance — a new platform — and said it has tied up with software giant Microsoft under a marketing arrangement.
“After a flat year in 2009, we are again witnessing an upward trend in the industry and our company has seen sales jump by 50% in the January-March period. Our target is to achieve a turnover of Rs1,100 crore this year, up from Rs840 crore in 2009,” Canon India president and CEO Kenasaku Konishi told reporters here.
He said the company will aggressively focus on its printer business as part of the strategy to achieve the sales target.
“Our aim is to offer a comprehensive printing solution. The tie-up with Mircosoft is intended towards such a direction, wherein our new printer platform will be integrated with their Office SharePoint server and both the companies will promote each other’s brand,” Konishi said.
All new models in the A3 segment will use the new platform, he added. The seven new products launched today are priced in a range of Rs80,000-Rs10 lakh.
Commenting on the company’s plan, Canon India senior vice-president Alok Bharadwaj said, “Last year, our enterprise solutions business, which includes the A3 multi-purpose copiers, had a turnover of Rs250 crore. With the launch of the new platform, which can be seamlessly integrated with Microsoft SharePoint, we hope to reach Rs362 crore this year.”
Canon is targeting the government sector and large corporate segments with the new launches and the collaboration with Microsoft.
“Our aim is to become the ultimate digital office and advance usability, help in digitisation of records and documents, securitisation of information,” Bharadwaj said.
He said the company will also increase its portfolio in the consumer systems products division also, which covers the laser and ink jet printer segments.
“We will be launching some new models around May. We hope to reach a revenue of Rs400 crore in the segment from Rs280 crore in 2009,” Bharadwaj said.
Canon has 18 models each of ink jet and laser printers in the Indian market. It imports all of them from plants located in the Far East countries.
The Indian printers market in 2009 was worth around Rs3,000 crore, in which the share of multi-purpose copier category stood at Rs1,200 crore.
“We want to maintain our numero uno position in the A3 copiers and laser printers segments, besides strengthening our position in ink jets where we are currently number two,” Bharadwaj said.
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First Published: Tue, Mar 23 2010. 05 13 PM IST