Canon India is targeting a 15 per cent rise in revenues to Rs.2,125 crore in 2013 on the back of new product launches.

The electronics major had recorded revenues of Rs.1,850 crore in 2012.

“Although the overall consumer sentiment is down but with the introduction of new technologies and products, we should be able to achieve a 15 per cent growth in our revenues to Rs.2,125 crore,” Canon India Executive Vice-President Alok Bharadwaj said.

Canon gets about 45 per cent of its revenues from cameras, while the remaining comes from printers and copiers as well as commercial printers.

Further, Mr. Bharadwaj said, the company was now focusing more on middle and high-end cameras amid smartphones with high resolution imaging capabilities eating into sales of entry-level compact cameras.

Meanwhile, the company, on Tuesday, launched 12 new camera models and plans to invest about Rs.100 crore in marketing of the products and setting up new stores.

The new range included Wi-Fi-enabled camera. Canon India plans to expand its ‘Canon Image Square’ stores to 300 by 2015 as it looks to double the revenues from the vertical to over Rs.340 crore in the next three years.

The company, at present, has about 100 such stores across the country, and expects to generate Rs.172 crore revenue from the vertical in 2013. “We expect that in next three years, revenues from this vertical would double to around Rs.340 crore,” Mr. Bharadwaj said.

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