Canon eyes 40% rise in India revenue

Canon eyes 40% rise in India revenue
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First Published: Sun, Jul 27 2008. 05 43 PM IST
Updated: Sun, Jul 27 2008. 05 43 PM IST
PTI
New Delhi: As the digital camera and copier sales set to zoom in the country, Japaneses imaging company Canon said it expects a 40% rise in its revenue from India at over Rs700 crore by the end of this year.
“Canon intends to achieve a 40% increase in revenue by the end of this year at Rs700 crore,” Canon India President and CEO Kensaku Konishi said, adding the company hopes higher sales in its camera business. Canon has printers, camera and camcorders, IT peripherals, copiers and software solutions.
The company reported a 38% growth in 2007 to achieve a turnover of Rs510 crore.
It expects 30% of its revenues from the sales of cameras, 20% from printer and IT peripherals business, 10% from software service and 40% from the copier business.
To boost its business, Canon had already set up four exclusive retail outlets for the consumer and business segment entailing an investment of Rs8 crore.
“This is a new concept and the first of its kind in India, the first showroom was set up in Gurgaon. We will come up with another two stores in Mumbai by the end of this year,” Konishi said.
Canon had opened two retail showrooms in south India offering wide range of products like printers, camera, camcoders, scanners, projectors and the all-in-one printers all under one roof.
To cater to the business class, Canon had launched a ‘Business Solutions Lounge´ showroom. This would offer products like multi-functional devices, large format graphic machines, scanners, colour networked copiers, print and scan solutions all under one roof.
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First Published: Sun, Jul 27 2008. 05 43 PM IST