14 April, 2010

Canon to invest Rs 55 crore on promotion, aims 25 per cent market share

"Canon already has 18 per cent share in the domestic digital camera market and in the current year we are targeting a 25 per cent market share," said Canon India Pvt Ltd President and CEO Kensaku Konishi. "For achieving a 25 per cent market share, we have to increase our camera sales by around 50 per cent and for that we will not only focus on above the line marketing activities but also on below the line marketing platform for promoting products," Konishi said. Canon launched 20 products, including - 14 new models in digital camera range, three high quality lens, two camcorders and a professional digital SLR camera.
Canon has reported a revenue of Rs 840 crore in 2009, and has fixed the target of achieving Rs 1,100 crore turnover in the current year. However, after recording a 60 per cent growth in its businesses in the first quarter of the current year, it has decided to revise its target to Rs 1,200 turnover in 2010.
According to estimates the total sales of digital cameras in the country is expected to go up to 10 million units by 2015 and that penetration of this product would also go to 10 per cent, he said.