 "Canon plans to unleash wi-fi in its cheapest model")
Entry-level compact cameras, also referred to as 'point & shoot' cameras, have been facing the brunt of smartphone sales. Now, in a bid to provide a much-needed boost in the compact segment, Canon India is in the process of providing wi-fi facility in its cheapest camera, which will enable the users to share the photograph instantly on social networking sites.
Speaking to Business Standard, Canon India CEO & president Kazutada Kobayashi said that this was the need of the hour in order to bring about a spurt in sales in the compact segment, estimated to be around 3 million units.
"This market will shrink by another 20-25 per cent this year and as a consequence our sales will also be affected. So, we are expecting to bring in wi-fi in our cheapest cameras next year. We have to lift the values that are being provided in the product,” he said. Currently, Canon's cheapest 'point & shoot' camera is available in the market at around Rs 5,500.
According to him, two primary reasons of dwindling sales in the segment are?rising smart phone sales and healthy growth in the DSLR (digital single reflex camera). The DSLR Segment is estimated to be around 3 lakh units, which is growing at a rate of 25 per cent per annum. The smart phone market is estimated to be around 18 million handsets, which is growing at more than 50 per cent.
Speaking about the overall business of the company, Kobayashi said the consumer business had been very fluctuating while the B2B business was showing a constant growth. “Consumer business has always been very fluctuating. Our B2B segment is growing at 11-13 per cent which is not too fast but it is constant for us,” he added. The company is aiming to clock in a top line growth of 15 per cent for the current year. It had witnessed a top line of Rs 1,850 crore last year.
Going forward, Kobayashi said one of his ambitions was to see the photo printing market grow in India. "It is not at all popular in the India so I would want to explore that,” he added.
Speaking to Business Standard, Canon India CEO & president Kazutada Kobayashi said that this was the need of the hour in order to bring about a spurt in sales in the compact segment, estimated to be around 3 million units.
"This market will shrink by another 20-25 per cent this year and as a consequence our sales will also be affected. So, we are expecting to bring in wi-fi in our cheapest cameras next year. We have to lift the values that are being provided in the product,” he said. Currently, Canon's cheapest 'point & shoot' camera is available in the market at around Rs 5,500.
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Canon's move can be a game-changer as most other camera players are offering such cameras at a higher price point which is above Rs 10,000. Samsung (Galaxy Camera), Nikon also has products offering wi-fi facility in the cameras.
According to him, two primary reasons of dwindling sales in the segment are?rising smart phone sales and healthy growth in the DSLR (digital single reflex camera). The DSLR Segment is estimated to be around 3 lakh units, which is growing at a rate of 25 per cent per annum. The smart phone market is estimated to be around 18 million handsets, which is growing at more than 50 per cent.
Speaking about the overall business of the company, Kobayashi said the consumer business had been very fluctuating while the B2B business was showing a constant growth. “Consumer business has always been very fluctuating. Our B2B segment is growing at 11-13 per cent which is not too fast but it is constant for us,” he added. The company is aiming to clock in a top line growth of 15 per cent for the current year. It had witnessed a top line of Rs 1,850 crore last year.
Going forward, Kobayashi said one of his ambitions was to see the photo printing market grow in India. "It is not at all popular in the India so I would want to explore that,” he added.