Japanese imaging and office automation major Ricoh’s India arm said on Friday that it was looking for more growth with focus on the still growing small and medium enterprises (SMEs) segment.
“We have been growing at a steady rate of 55 percent to 60 percent year-on-year (YoY). Ricoh India is growing faster than most other markets for Ricoh owing to our focussed solutions for customers especially in the SMEs segment,” Manoj Kumar, managing director and CEO of Ricoh India, said.
“India contributes $3 million of the total revenue of Ricoh globally which is close to $23 billion and yet we are the fastest growing market for Ricoh,” he added.
The Japan-based company offers IT and communication services, cloud services in sectors like education, BFSI, manufacturing, healthcare and strategic business verticals.
“We are the market leader in the imaging solutions business and are always looking at providing integrated solutions to our customers that will take care of all his needs,” Manoj Kumar added.
Ricoh India also launched new cameras and claims that it will soon takeover Canon, the market leader, in one to two years.
“We are expecting a double digit growth in our camera business and it will contribute at least five to 10 percent of our revenue in the next one year,” Manoj Kumar said. Currently, the camera business contributes only two percent of the total revenue.
Ricoh, which has a toner-bottling plant in Gandhinagar, said there are plans of starting manufacturing units in India but did not elaborate.
“We are seeing a lot of traction from semi-urban areas and a lot of traffic through online which is the future,” Manoj Kumar said, alluding that Ricoh maintains a balance of offline and online channels to continue and expand its operations in India.