Canon India eyes 10% growth in turnover this year

Digital imaging major Canon India is eyeing 10 per cent growth in its turnover this year, a top official today said.
"The company had last year clocked a turnover of Rs 1,910 crore and this year it is aiming at 10 per cent growth to touch Rs 2,100 crore," Kazutada Kobayashi, President and CEO, Canon India, told reporters here.
Canon India today expanded its digital photo album print domain in the country by introducing DreamLabo 5000, a commercial inkjet printer in Kerala.
The new product provides a high quality alternative to the traditional silver halide technology. Besides, the premium quality printing offers both the production photo and the small batch Print-On-Demand (POD) markets substantial new revenue streams, he said.

After its launch in Bangalore, Kerala is the second market where we are introducing the product, which is expected to revolutionise wedding photography in India, he said.
Household purchase ratio of cameras is still less than 10 per cent in India and the potential is "very high", Kobayashi said.

Alok Bharadwaj, Executive Vice President, Canon India, said out of the Rs 3,300 crore commercial photo printing market in India, nearly 20 per cent is digital, which is about Rs 700 crore.
Canon is looking at capturing 10 per cent of digital photo album print space in India in the next three years. South India, especially Kerala, would be a big driver towards this goal, he said.

Canon is looking at Rs 10 crore business from the sector. Professional Printing Products division -- a new division -- was started by Canon five years ago. The revenue of this division, which is Rs 95 crore at present, is likely to touch Rs 200 crore in another three years. A 25 per cent growth per year is expected, he added.