CANON EYES 40% RISE IN INDIA REVENUE

New Delhi, July 28, 2008
MintAs the digital camera and copier sales set to zoom in the country, Japanese imaging company Canon said it expects a 40% rise in its revenue from India at over Rs 700 crore by the end of this year.

“Canon intends to achieve a 40% increase in revenue by the end of this year at Rs 700 crore,” Canon India President and CEO Kensaku Konishi said, adding the company hopes higher sales in its camera business. Canon has printers, camera and camcorders, IT peripherals, copiers and software solutions.

The company reported a 38% growth in 2007 to achieve a turnover of Rs 510 crore.

It expects 30% of its revenues from the sales of cameras, 20% from printer and IT peripherals business, 10% from software service and 40% from the copier business.

To boost its business, Canon had already set up four exclusive retail outlets for the consumer and business segment entailing an investment of Rs 8 crore.

“This is a new concept and the first of its kind in India, the first showroom was set up in Gurgaon. We will come up with another two stores in Mumbai by the end of this year,” Konishi said.

Canon had opened two retail showrooms in south India offering wide range of products like printers, camera, camcoders, scanners, projectors and the all-in-one printers all under one roof.