Canon targets Rs 1,000 crore sales by 2009

Digital imaging company Canon India is targeting a turnover of Rs 1000 crore by 2009 on the back of its growing digital camera business.

Unveiling its new range of digital cameras, DV camcorders, digital SLRs and printers, the company spoke about achieving a 50 per cent growth in cameras and maintaining the current market share of 27 per cent.

"Digital cameras will contribute Rs 500 crore to our target of Rs 1000 crore," Canon India Senior Vice-President Alok Bhardwaj said. The digital cameras segment currently accounts for 30 per cent of the company's revenue.

In order to achieve its target, the company plans to focus on strengthening its retail and distribution network, apart from opening six brand showrooms, in this year.

Canon also intends to add two new master service centres at Bangalore and Chennai by this year-end to strengthen its after-sales service, in addition to two centres at Gurgaon and Mumbai.

The company unveiled its new television commercials with brand ambassador Sachin Tendulkar, which will go on air shortly. It will invest Rs 100 crore in marketing and advertising initiatives during the current year.

The company registered 35 per cent growth in sales, clocking a turnover of Rs 510 crore, in 2007. Set up in 1997, Canon India is a subsidiary of Canon Singapore and markets a range of digital imaging products, including photocopiers, multi-functional peripherals, fax-machines, printers, scanners, all-in-ones, digital cameras, digital camcorders and multi media projectors. The company has 50 Canon flagship stores and 32 Canon care centres.