Canon to expand presence in India, targets Rs 3,500 crore revenue

Canon India on expansion plans
Canon India announced major expansion plans in a bid to achieve Rs 3,500 crore revenue in 2020 from Rs 2,349 crore in 2016. The imaging company has achieved 9 percent revenue growth in India in 2016.

“In the coming years, we will focus on our retail footprint and on growth across all businesses to achieve a double digit growth each year. By 2020 we envision to reach revenues of INR 3500 crore,” said Kazutada Kobayashi, president and CEO of Canon India.

Canon marked its 20thanniversary in India with a steadfast plan for the country across its enterprise, commercial, consumer and social initiatives.

As part of Canon India’s Vision 2020, the company aims to penetrate further in the country with its offerings, augment the photography culture in India and introduce technological advancements across business and consumer products.

“Together with team members and business partners, we will scale this height to achieve our goal of continuous growth in Asia,” said Noriko Gunji, president and CEO of Canon Singapore.

Canon has launched several products over the years in both B2B and B2C categories.

Canon India aims to double the number of Canon Image Square stores from 214 across 103 cities in the country.

For the inkjet division, the focus would be to build shelf share in the top resellers and concentrate on expansion to new vertical markets with SOHO and Pro Products.

The Laser segment would strengthen its outreach towards the enterprise and government sector, along with progression towards value products with focus on customer lifetime management.

Streamlining office processes and maximizing business efficiency, the Business Imaging Solutions vertical will be expanding its portfolio in 2017.

Canon’s Professional Printing domain (PPP) is strengthening its channel partner’s outreach to double its presence, across the country.

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