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Canon revenues up 27%, sees rosy 2010
Canon, the Japanese imaging and printing firm, has set a solid momentum for 2010. Despite the slowdown, the digital imaging equipment maker saw its revenue growing from the Indian operation in 2009.
Canon, the Japanese imaging and printing firm, has set a solid momentum for 2010. Despite the slowdown, the digital imaging equipment maker saw its revenue growing from the Indian operation in 2009.
The company closed the year with Rs 850-crore revenue, a neat jump of around 27 per cent from 2008, wherein it clocked Rs 665-crore revenue. The company has now set eyes on the Rs 1,000-crore mark by 2010 end.
“We have secured leadership position in at least six categories,” said Alok Bharadwaj, senior vice-president, Canon India. “One major area of growth has been the printer business followed by digital single lens reflex (DSLR) cameras, which has been very positive in terms of growth. In the printer business, the industry shrank and the market share of all competitions declined but we grew at 72 per cent.”
Canon’s focus on the printer category helped it grow from 13 per cent in 2008 to 41 per cent in 2009.
“This year we focused on initiatives to penetrate tier 2 and 3 markets. Also, government projects helped us do better,” said Bharadwaj.
Canon benefited from government projects wherein various divisions like hospitals, passport offices and others are being modernised. Canon is working with system integrators to supply scanners and DSLR cameras.
In the coming year, the company intends to focus on emerging areas like power and healthcare to increase business. In 2009, the company had a capex of Rs 100 crore of which it spent about Rs 80 to 100 crore in marketing activities.
