Canon India targeting 800 Crore turnover in 2009

Bangalore: Canon India, a subsidiary of Canon Singapore is aiming to achieve a sales turnover of 800 crore this year. The company which had a sales turnover of 665 crore last year is expecting 33 percent revenue from its camera business this year alone. The camera business has seen a 27 percent growth in the first six months of this year, said Alok Bharadwaj, Vice President, Canon India. In digital SLR camera, Canon is a top player with a market share of 54 percent. As part of its three-pronged strategy to achieve the sales target, the company will increase its penetration to more towns, organizing the Canon League programme (CLP) and festival sales schemes. It aims to increase its penetration in a phased manner to 500 towns (at present 200), with over 2,000 outlets across the country in next three years. According to Bharadwaj, by December this year, the company would be present in all the Tier 1 and II cities. Canon's overall average growth in India is 19 percent. The Onam festival in Kerala would set the ball rolling for the company's business plan this year. For Onam, Canon has launched a new range of cameras. The company opened its ninth exclusive store in Cochin today. (Kerala accounts for six percent of their total sales.)