Canon India targets Rs 400 cr turnover by year end

New Delhi, Jun 13 (UNI) With the digital revolution fast catching up, Canon India Pvt Ltd, today reconfirmed its has serious plans for the Indian market and targets a sales turnover of Rs 400 crore at a growth rate of 30 per cent by the end of 2006.

''The Indian market is very interesting and attractive. We had a total sales turnover of Rs 306 crore in 2005, which was an 18 per cent increase from 2004. We expect the turnover figure to reach Rs 400 crore and register a growth rate of 30 per cent,'' Canon India President and CEO Alan Grant said.

Mr Grant was talking to press persons here while announcing its plans to host a photo contest in partnership with WWF India as part of the ongoing World Environment Day Celebrations 2006.

Canon India aims to be the market leader in terms of digital cameras and will strive to consolidate its position as the leader for digital copiers. We currently has a market share of 20 per cent for digital cameras in the country, Mr Grant said.

As part of its marketing strategy, the company is also focussing on localised advertising and promotion, conducting roadshows and exhibitions in the country.

Canon has strong focus distribution and channel network with about 281 channel partners, 191 retail stores, 19 Canon care centers and over 100 authorised service centres.

The company also has a Software Development Centre in Gurgaon established in 1999, which is one of the six centres established by Canon in the world and is the latest R&D set up outside Japan.

Canon India Pvt Ltd is a 100 per cent subsidary of Canon Singapore Pte Ltd and was established in 1997. The company has currently offices in seven cities and employes over 400 people.

Canon Inc, a global leader in photographic and digital imaging solutions was established in 1937. Its ranked 154 in Fortune 500 and has a 50 per cent global market share in the digital cameras.

UNI MP CS HT1515