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Canon India aims at 30% market share
By siliconindia
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Wednesday, 12 May 2004, 19:30 IST
KOLKATA: Canon India Pvt Limited, lndian subsidiary of leading IT digital imaging company Canon Singapore Pvt Limited, is targeting 30 per cent share of digital cameras, photo scanners and inkjet printers market.
Alok Bharadwaj, director and GM, consumer imaging and information division, of Canon India, told reporters at a news conference here on Tuesday that the company, which clocked a revenue of Rs 62 crore in 2003, is aiming at a revenue of Rs 102 crore from selling consumer imaging products in the country.
He said that the company was looking at a overall revenue growth of 18 per cent in the current financial year at Rs 270 crore.
The company is aiming to increase the share of digital cameras in the overall camera market. Currently, analog cameras account for 97 per cent of the market.
Bharadwaj claimed that Canon worldwide had already beaten Sony in terms of market share in digital camera segment. While Canon's market share was 14.9 per cent, Sony's was at 13.9 per cent.
The company today unveiled a slew of consumer imaging products ranging from camcorders, digital cameras, projecters, printers and scanners.
He said that the company was aiming at 50 per cent growth in business from the Eastern market.
The Canon official said that the company was trying to move away from entry level segment to mid-size sector.
For this purpose, the company would aggressively market its products for which an adspend of Rs 20 crore had been earmarked.
Canon India plans to set up 250 retail points by the end of 2004 and expand the channel base of to 600 in the eastern region only.
Besides West Bengal, Canon India was also expanding markets in Guwahati, Jamshedpur, Siliguri and Ranchi.
Asked about future targets, he said that the company was aiming at a turnover of Rs 700 crore by 2007