Public CompanyCanon India expects to clock 20 per cent growth
Canon India, leading photographic and digital imaging company, expects to clock a 20 per cent growth this year. It earned a revenue of Rs 665 crore in 2008, registering a 20 per cent growth in the first eight months of 2009.
- Canon India targets Rs 300 cr turnover - Canon India to invest Rs 200-cr, launch 100 products - Canon targets Rs 100cr revenue from Guj by '10 - "Our plan to achieve Rs 1,000 crore revenue by 2010 is on track" - Canon India eyes 25% revenue growth - Canon India eyes 25% revenue growth to Rs 840 cr
“In the first eight months of this year, Canon recorded revenues of Rs 800 crore and we expect to close the year with a 20 per cent growth,” senior vice-president Alok Bharadwaj said. Last year"s revenue clocked 31 per cent growth over 2007. “Overall, Canon expects to garner revenues of more than Rs 800 crore this year in its India operation,” Bharadwaj said.
Canon is also planning new technology value propositions and penetrations into more and more towns in India with its products. "Canon would look at 200 towns this year, 300 next year and 500 towns in 2011," he said. Canon Consumer Systems Product (CSP) division closed the first six months of 2009 with 49 per cent growth.
Canon has been ranked as the market leader in the scanner category with a 49 per cent market share and 17 per cent growth in the consumables segment. The laser segment has always been a key revenue generator for Canon and as of May 2009 the market share stands at 31 per cent with a growth of 160 per cent.
East India contributed the highest to the consumables business- 32 per cent - which is the engine of growth for this sector. Canon has for the first time introduced in India an all-purpose touch screen IXUS digital camera.
Canon India plans to invest Rs 20 crore during the festive season in media campaign and promotions, beginning from Kochi on Onam. Canon expects that its new integrated marketing thrust including special offers for customers to fetch it a record growth of 50 per cent during the festive season this year.
Bharadwaj said, “Our research indicates that last mile activation is the most challenging element. Hence we have rolled out three new customer engagement programmes from Tier II cities in East covering photo studios, photo enthusiasts and retails points. Canon has introduced the festive offer scheme under which every customer gets an assured gold plated coin, on purchase of any imaging communication product. This offer is valid on all products across DC, DV and DLR catagories.”