Canon India Ltd, a 100 per cent subsidiary of Canon Singapore Pte Ltd, a world leader in imaging technologies, has set a turnover target of Rs 1250 crore in calendar year 2010.
If achieved, this would be a growth of 48.8 per cent over Rs 840 crore which the company had achieved in 2009.
Kensaku Konishi, President and Chief Executive Officer, Canon India Ltd, said, “This year, we expect almost 50 per cent growth in our turnover and we expect to close calendar year 2010 with a turnover of Rs 1250 crore. The growth in the printer segment will be 70 per cent while camera sales are expected to be up by 50 per cent in 2010. In calendar 2011, our turnover is set to rise by 35-40 per cent.”
About 38 per cent of Canon India's sales in 2010 are set to come from printers followed by cameras at 34 per cent and photo copier at 25 per cent.
The company is the market leader in the printer segment in the country with a share of 35 per cent. In the compact camera segment, Canon is the second largest player with a share of 18 per cent.
"In the eastern region, we have a share of 30 per cent in camera sales. The eastern region is expected to contribute around Rs 200 crore this year to our turnover and Orissa accounts for 12-15 per cent of the region's turnover”, he stated.
To boost its sales and also to offer a better retail experience to the customers, Canon has rolled out Brand Shops in Noida and New Delhi. It also plans to open similar brand outlets in locations like Ahmedabad and Kolkata.
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"We hope to open one Canon Brand outlet in Bhubaneswar by the third quarter of 2011”, said Konishi.
Canon which has 860 employees in India at present is looking to take up its employee strength to 1000 by the end of 2011.
Asked on branding of products, he said, “Every year, we spend 10-12 per cent of our turnover on branding of our products. In 2010, we have launched about 100 products in the India market which includes 40 products of cameras, lenses and camera accessories.”
Stating that the contribution of the India market is still insignificant to Canon's global business, he said that the country's share of the company's total business is set to reach two per cent by 2015.
Meanwhile, Canon India has announced the arrival of Canon’s Image Express in the city. The Canon Image Express is a caravan which is stationed in the city from December 24-26 for enthusiasts to come and experience technology in Canon products.
“We consider Tier II and III cities as the engines for future economic growth and high potential markets of tomorrow. Canon is taking steps to enhance penetration by focused marketing efforts in various smaller towns”, said Konishi.