Canon India, one of the leading digital imaging players, aims to continue growing at double digit rate as it hopes to increase the penetration of its products and bring new consumers to its fold.
The Japanese major, which launched new models of ink tank printers to expand its PIXMA G-series portfolio, is also planning to expand the footprint of its “Business Imaging Solution Lounges” in India.
Kazutada Kobayashi, President & CEO, said the company aims to grow by over 10 per cent this year in revenue terms. “The growing disposable incomes and the rising number of middle-income households make us optimistic about the growth prospects for the company in India,” he said.
B2B lounges
The company closed 2018 with about ₹2,811 crore in revenues and has seen equal contribution from its B2B and B2C business verticals. Talking about plans to grow distribution for its B2B business, he said, “We currently have six Business Imaging Solution Lounges. By the end of this year, we plan to have 15 such lounges.”
These lounges are targeted to cater to the technology needs of small and medium enterprises.
For its B2C business, the company has about 250 Canon Image Squares, which it will also look at expanding further.
The new models are designed to lower business printing costs and targeted at small and medium enterprises, designers, hospitals and pharmacies among others. The new PIXMA G6070, PIXMA G5070 and PIXMA GM2070 are priced at ₹21,499, ₹17,399 and ₹14,299 respectively.
Tamaki Hashimoto, Group Executive of Consumer Inkjet Group & Executive Officer of Canon, said, “India has witnessed a rapid growth in the inkjet business for Canon and has been one of our top priority markets for expansion. Our learnings from the business in India, provides us an immense opportunity to nurture our new products.”
Added Kobayashi, “With this launch, Canon India aims to secure 25 per cent market share in the Ink Tank printers category.”