Canon to launch 40 new products in India by June

March 22nd, 2010 - 5:06 pm ICT by IANS  

By Sakshi Gulati
New Delhi, March 22 (IANS) Japanese office automation and imaging giant Canon would launch 40 new products, including a wide range of digital cameras and printers, in the Indian market over the next three months, a company official said.

“We are launching 40 new products by June. These include digital cameras, video cameras, printers and copiers. At present, we have 148 products. These new launches will replace older ones,” Canon India senior vice president Alok Bhardwaj said.

“We will also launch this week a new range of document machines — a multi-functional device combining a scanner, printer and photocopier in a single equipment,” Bhardwaj told IANS here.

“These document machines are targeted basically for office users. These are like multi-functional devices. A single machine can perform various tasks.”

The $45 billion company has tied up with 13 retail chains to sell its products and set up 14 service centres, up from 10 at present.

Canon also hopes to beat Nikon in the 50,000-unit market for single-lens reflex (SLR) cameras in India with a 55-percent marker share.

“In the compact digital camera market, which will be two million units market in India this year, we are eyeing a 25-percent share,” said Bhardwaj.

The Indian arm of the company, a wholly-owned subsidiary of Canon Singapore, has set a target of Rs.1,100 crore ($345 million) in revenues this year, against Rs.840 crore ($185 million) in 2009.

From the cameras segment alone, the company is looking at a turnover of Rs.450 crore ($100 million) this year, up from Rs.300 crore ($65 million) it earned in 2009 from the segment.

Around 20 percent of the company’s earnings come from the sale of projectors, printers and cameras to the Indian government. “We see this going up to 25 percent this year.”

The company also forayed into the Rs.150 crore ($33 million) surveillance camera market in India six months ago. “Since we have just entered, we are eyeing only a one percent share in this market,” said Bhardwaj.

Canon has also launched in India two cameras targeting Internet users with high zoom and infrared features. It is also in talks with system integrators like HCL and Wipro for software and marketing of these products.

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