Canon India plans to double revenue
Canon India is planning to double its revenue from Rs 400 crore in the calendar year 2006 to Rs 800 crore by 2008.
By TNN |
NEW DELHI: Canon India is planning to double its revenue from Rs 400 crore in the calendar year 2006 to Rs 800 crore by 2008.
“We registered a 30% increase in our revenue last year. However, sales in India are still one-third of Canon’s sales in Hong Kong and Singapore. Considering the rate of growth of the Indian economy and our plans for the market, we aim to double our revenues in the next two years,” said Canon India president & CEO Kensaku Konishi.
Mr Konishi recently took over as the Canon India president & CEO. The company is show-casing its latest products at the 17th International Engineering and Technology Fair (IETF).
Canon India would invest Rs 40-50 crore this year to fund its expansion. The company plans to launch 100 new products every year in its bid to grow its business in India. The new products would include digital cameras, camcorders and multi-functional devices.
“We will increase our retail presence from 3,500 outlets in the country currently to about 5,000 by 2008. Also, we will invest more in advertising. We have recently signed on Sachin Tendulkar as our brand ambassador,” said Mr Konishi.
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The company has a software development centre in Noida where it plans to increase the headcount from 130 to 200 by the end of this year. “We aim at increasing the scope of the work being done at our Noida centre. We would like the centre to develop application software for our overseas operations too,” said Mr Konishi.Start a SIP with as low as ₹500 with ET Money App!
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