Canon eyes 50 per cent growth in 2008

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Bangalore, Dec 20 (UNI) Registering an impressive 38 per cent overall growth, leading Camera maker Canon India is now targeting a 50 per cent growth in 2008.

Canon India Vice President Alok Bharadwaj told UNI here that with a turnover of Rs 500 crore, Canon India, which had been growing at a compounded annual growth rate of 18 per cent since its inception a decade ago, aimed at a much higher growth in future with the country emerging a leading player in the continent. It had outdone China in the sales of digital camera, though that country's total sale was ten times more than that of India's annual digital camera sale of 600,000.

The Indian digital camera market growth was the highest in Asia and would continue to be so for the next few years.

The company had 140 products to offer to Indian consumers.

Mr Bharadwaj, who was here in connection with the launch of limited series digital camera model 'ixus' with eight mega pixel and four optical zoom said the company aimed at selling 1,000 cameras in a period of one month and if warranted the number could be increased to 3.000.

The company chose Bangalore for the launch as the city was one of the highest selling points, he said.

He said while Cannon was leading the camera market with a 28 per cent share, it was a farcry second in the printer market having just 15 per cent share as against 60 per cent of the leading player HP.

Canon led the copier market with 25 per cent share.

The company also planned to open 'level four' service centre in Bangalore and Kolkata with an investment of Rs one crore each. These centres would take up the entire retire job of a digital camera, besides caliberation of lenses.

Similarly it was also planning three retail showrooms in Delhi, Mumbai and Bangalore with an investment of Rs six crore. The Delhi showroom would be opened by March next year.

UNI

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