Canon doing feasibility study to manufacture in India
Japanese digital imaging major Canon, which launched three high speed "Ink Tank" printers in the G-series in India on Wednesday, is doing research and feasibility studies to explore the possibility of manufacturing its products in India, a top company executive said.
"Right now all our products are manufactured outside India. But we are doing research and feasibility studies to see if it is practical to manufacture in India," Kazutada Kobayashi, President & CEO, Canon India, told IANS.
Terming India a very important market, Kobayashi said that Canon is eyeing over 10 per cent revenue growth from the India market this year.
"In 2018, we earned a revenue of Rs 2,811 crore. This year our target is to grow at over 10 per cent," he said.
"We do not have a concrete plan to manufacture in India yet, but if we want everything is possible," Kobayashi said.
While the printer business is declining in the country in line with the drop in the personal computer market, India has witnessed growth in the inkjet category - printers which are generally preferred in homes and small businesses.
Within the inkjet category, the Ink Tank printers have done well in the market.
"India has witnessed a rapid growth in the inkjet business for Canon and has been one of our top priority markets for expansion," said Tamaki Hashimoto, Group Executive of Consumer Inkjet Group & Executive Officer of Canon Inc.
"Our Ink Tank business in India has an excellent blend of home and office customers, which gives us the opportunity to have a balanced focus between B2C (business to customers) and B2B (business to business) segments," Hashimoto said.
Canon India said that while it aims to achieve a 25 per cent share in the India Ink Tank business, in the overall inkjet category, its target is to achieve 12 per cent market share in 2019.
"We are putting equal emphasis on the B2B (including business to government) and the B2C spheres to expand our India business," Kobayashi said.
"Canon has always been trying to become unique in the market. We want to offer best advantage of our technology to the customers. One good example is our unique printer head called Fine. This epoch-making technology makes our products different from others.
"Our products will attract certain groups of people. The colour analysis, resolutions, speed of printing and balance of cost for it will attract certain segment who care for value for money," he said, adding that a price war in the printing business has always been there.
Kobayashi said that to expand its B2B business, Canon India introduced a business imaging solution lounge last year.
"General customers can walk in to stores, but businesses do not walk in. Therefore we introduced the business imaging solution lounge the first of which was opened in Daryaganj, New Delhi," Kobayashi said.
"We now have six such facilities spread across different parts of the country. Our aim is open 15 such facilities in the country by the end of 2019," he added.
The new PIXMA G6070, PIXMA G5070 and PIXMA GM2070 printers that Canon India introduced on Wednesday are competitively priced at Rs 21,499, Rs 17,399 and Rs 14,299 respectively.
The printers are equipped with duplex (both sides) printing and Artificial Intelligence (AI) support for compatibility with smart speakers, Canon India said.
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