Canon India Expects 26% Revenue Increase In 2013

According to Times of India, Canon India targets 26% growth in 2013 as it expands its product portfolio and retail presence across the country.

Kazutada Kobayashi, Canon India President and CEO, revealed that the OEM accomplished Rs.1,850 crore in 2012 and it is aiming at a 26% increase by the end of 2013, reaching Rs 2,350 crore, and Rs 5,500 crore by 2016.

“We are seeing strong growth in the camera segment and have also grown in the printer category. We are targeting to reach the $ one billion (or Rs 5,500 crore) milestone by 2016,” Canon India executive vice president Alok Bharadwaj told reporters here.

“About 50 per cent of the company’s revenues in 2012 came from cameras, 20 per cent from printers, 25 per cent from copier and document management services and five per cent from professional printing products business,” he added.

Canon also expects its market share in India’s inkjet printer segment to increase to 25% from the current 19% and get revenues worth Rs 150 crore in the segment.