Canon on Tuesday launched its new range of 20 next generation digital cameras and camcorders and announced plans to invest Rs. 55 crore in the marketing of the camera business in the current year.

The launch included five cameras in the PowerShot range, three cameras in the IXUS range, six high-definition and two standard definition camcorders and the much awaited EOD 550 D digital SLR having three high quality lens versions.

“With the launch of these products, we have expanded the range for digital cameras, camcorders, D- SLR products to 42. Our new product range, launched today [Tuesday] provides supreme technology cameras for all users to help click their best Canon shots,” Canon India President and CEO Kensaku Konishi told journalists here.

According to Alok Bharadwaj, Senior Vice-President, Canon India, “Our technology advances in wide angle, high optical zoom, faster processor and high definition video capturing features with sleek looks. Smart flash exposure and smart shutters are new additions to smart auto technology.”

Stating that their DSLR business has grown to become 10 per cent of total camera business, Mr. Bharadwaj said they planned to set up exclusive pro-zones for EOS DSLR customers and take the workshop programme on wedding photography to 37 small towns.

The compact digital camera market in India was worth Rs. 2,000 crore and 20-lakh units. The market is likely to grow to Rs. 10,000 crore and 10 million units by 2015. The DV camcorder segment in India is now estimated at 1.4-lakh units and DSLR around 50,000 units.