Canon gets the right clicks
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"India has over 10,000 professional photographers and half of them are Canon users. Over several years, we have been addressing their strong needs for photo capturing equipments and accessories in the Indian market. With our domain expertise, we have witnessed a strong requirement for ultra high quality fine art prints and the rise of new domain called 'in-studio' printing. We are delighted to enter into this domain which is estimated to be over R50 crore in size by 2013. We would target 50% of this in the year 2013," the Canon India executive VP says.
He further adds: "Every specialised input for master craftsmen in photography has been incorporated in these printers to produce output exactly as the photographer imagined it to be. The Pixma Pro-series is indeed a quantum leap in professional in-studio printing in India." Canon's product portfolio extends over a vast variety of copier multifunction devices, fax machines, printers, scanners, all-in-ones, digital cameras, camcorders and multimedia projectors, cable ID printers, semiconductors and card printers.
Canon has been operational in India since 1997. Canon India achieved revenue of R1,525 crore in 2011. Revenues in 2010 were R1,260 crore. In the first 10 years, Canon grew at a compounded annual growth rate of about 18% per annum and in the years before this economic downturn, the company touched an annual growth rate of over 30%.
According to Alok, 2012 has been most difficult year for digital camera industry. Industry growth has generally been flat. "However, Canon has maintained a high rate of growth in India. Our effort is to reconfigure the photography business in India with youth-centric propositions using a three-pronged strategy of celebrity endorsement, imaging brand stores expansion and faster product portfolio churn with strong range. We introduced 25 new products in 2012 and now offer 36 models to take the consumer experience with Canon to the next level. With 93 brand stores in 45 towns, we are attempting to make experience as a big differentiator."
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