Canon India Targets 30% Inkjet Market Share

According to The New Indian Express, Canon India Pvt Ltd. is targeting a 10% growth in revenue and 6% increase in inkjet market share in 2014.

Last year, the OEM reported total revenues of Rs 1,910 crore (US$313 million), and this year, it is aiming for Rs 2,100 crore (US$344 million), up 10% compared with 2013. About 31% of the revenue will come from the sales of inkjet and laser printers.

Meanwhile, the company plans to increase its market share in India’s inkjet business from the current 24% to 30% by year-end 2014. As was revealed by The New Indian Express, the inkjet business in India is worth Rs 1,000 crore (US$163.9) annually, with sales of 1.2 million units. Of this market, 84% is attributed to the home segment.

Asserted Alok Bharadwaj (Pictured), Executive Vice President, Canon India, India’s printer market is now being driven by the student community, apart from enterprises. This has prompted Canon to launch a new marketing campaign, called Super Student, to reach target customers in 100 schools in 10 cities.

On April 23, Canon introduced 9 new inkjet printers with 6 WiFi models for home, office and professional users. Some of the new launches are focused on students.