Canon to deepen India presence
Canon India is planning a three-pronged strategy in India that will include touching new customers, geography and products.
By PP Thimmaya, TNN |
BANGALORE: Canon India is planning a three-pronged strategy in India that will include touching new customers, geography and products. These initiatives are expected to see Canon India crossing a top line of Rs 800 crore by 2008 against Rs 400 crore in 2006.
Having been in India for the last 10 years, Canon has been recording an average growth of around 18%. For the first 10 months of 2007, it has recorded a top line growth of 38%.
Talking to ET, Alok Bhardwaj, VP, Canon India said, they would looking at maintaining 30% growth rates for the next three years given the economy is expected to record around 9% growth. Canon India, which largely has presence in major metros, is now looking at tier II cities. Mr Bhardwaj said, they were seeing growth potential in these cities.
Canon India is also looking at catering to the local flavour while entering these markets. This expansion plans will see its reach extending to 30 cities from the current 18 by 2008. Further, its head count is expected to touch 700 by 2008 from the current level of 500.
The company would also be looking at exclusive outlets for the enterprises and consumer segment. It is planning to set up three outlets for businesses and six centres for the consumer segment. For Canon India, its copier segment accounts for 45% of its business followed by digital cameras at 30% and printers 21%. It occupies the number one position at the camera segment with 27.8% share.
Having been in India for the last 10 years, Canon has been recording an average growth of around 18%. For the first 10 months of 2007, it has recorded a top line growth of 38%.
Talking to ET, Alok Bhardwaj, VP, Canon India said, they would looking at maintaining 30% growth rates for the next three years given the economy is expected to record around 9% growth. Canon India, which largely has presence in major metros, is now looking at tier II cities. Mr Bhardwaj said, they were seeing growth potential in these cities.
Canon India is also looking at catering to the local flavour while entering these markets. This expansion plans will see its reach extending to 30 cities from the current 18 by 2008. Further, its head count is expected to touch 700 by 2008 from the current level of 500.
The company would also be looking at exclusive outlets for the enterprises and consumer segment. It is planning to set up three outlets for businesses and six centres for the consumer segment. For Canon India, its copier segment accounts for 45% of its business followed by digital cameras at 30% and printers 21%. It occupies the number one position at the camera segment with 27.8% share.
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