CANON India launches 24 new products

BANGALORE: Canon India Pvt. Limited, today outlined an aggressive roadmap in the hope of taking the top spot in the area of Digital Imaging Products by 2005. Canon India has launched 24 Digital Imaging products in the Indian market. The company also hopes to grow its India revenues by 35% in 2003.

Canon India also shared statistics to endorse its strong performance in the Indian market as is reflected by the fact that the company has grown its market share in the Inkjet printer category from 3 to 16 % and in the Flatbed Laser MFD segment from 12 to 23.6%*. In keeping with this growing market share and presence across multiple product categories, Canon India also recently achieved another significant milestone as it acquired its '1 lakh customer' for its imaging portfolio.

Reiterating Canon's commitment to the Indian market, Mr. Alan Grant, President and CEO, Canon India, said, "India is a strategic market for Canon Inc. and has been a star performer in Canon's APAC stable. As P.C penetration proliferates across the country, IDC estimates that India will be the largest Printer market in the Asia Pacific. Canon India is well poised to make the most of this opportunity as Canon has a leadership position in the global MFD market."

Detailing Canon's roadmap for emerging as India's 1st complete Digital Imaging company, Mr. Alok Bharadwaj, Director & General Manager, CIID & Volume products, Canon India Pvt. Ltd. (CIPL) said, "With the launch of the 24 new products, that we have introduced in the Indian market today, Canon India, now has more then 110 digital imaging products available in the country.“

Detailing the company's business strategy for 2003, Mr Bharadwaj added, "Canon has identified a three pronged strategy to grow its revenues and achieve its ambition of being the country's Number 1. Digital Imaging Company by 2005. As part of this endeavor, we will be focusing on a) Building a strong presence in the Indian photo printing market which consists of over 1, 00,000 photo studios and has a high growth potential b) Penetrating the commercial 'corporate' market segment with our technologically superior and cost efficient product that delivers a higher LTV (Life Time Value) and c) Dominating the Laser MFD segment, where Canon has a global leadership position."