Canon India eyes 200% topline growth in 3 years

By SiliconIndia   |   Tuesday, 21 September 2004, 07:00 Hrs
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NEW DELHI: Canon India is aiming at over 200 per cent topline growth in the next three years, largely helped by increasing sales of digital cameras and aiming at 30 per cent market share in the category.

"Our aim is to have a sales turnover of Rs 700 crore by 2007 over Rs 230 crore last year. With increasing volume of digital cameras, we will have 30 per cent market share by then," Canon India director and general manager Alok Bharadwaj told a a news conference.

At present, the digital camera market stands at Rs 100 crore.

The digital camera industry is expected to touch Rs 600 crore by 2007 and the segment will contribute Rs 180 crore to Canon India's overall revenues by 2007.

India and the Philippines were the only two markets in Asia where analog camera market was bigger than digital camera industry.

"We see a major shift towards digital cameras from analog ones. In India, digital cameras will overtake analog cameras," he said.

The Indian arm of Canon Singapore on Tuesday also introduced 11 digital cameras.

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