Canon Expects Rs. 1.75 Billion Revenue from Indian Market

According to SiliconIndia News, Canon aims to achieve Rs 1.75 billion (USD $27.6 million) in revenue from its printer business in India this year. In spite of the flat printer market, Canon said it expects 25% growth in revenues from the inkjet printer segment.

In addition, Canon claims to have captured a 29% share of the inkjet market. In light of strong demand for inkjet printers, Canon estimates the inkjet market to be around Rs 14 billion (USD $221 million) or 1.2 million units in sales.

Alok Bharadwaj, Vice President at Canon India added that Canon’s goal is for the inkjet printer contribution to grow to 12% in the next two years.

“We expect inkjet printers to contribute about 9% of our total revenue. This would be about 175 crore this year. We are seeing 25% growth in sales, though, for the industry, the growth is flat at just about 4%.” Bharadwaj added.