Canon India, which is targeting a Rs. 1,200-crore turnover in India this year, today said it would be looking at small towns to generate 70 per cent of its business by 2015.
The company has set its eyes on 43 per cent growth in business over last year and is on an aggressive drive to expand its reach to 300 Tier II and Tier III towns by next year, Senior Vice President Alok Bharadwaj told reporters here.
Fifty per cent of Canon’s business has been contributed by these towns. “We expect the small towns to contribute 70 per cent of business by 2015,” he said.
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Rolling out Canon’s festival offer for Kerala during Onam, he said the company aims to garner Rs. 4 crore in sales during the festival this month. It expects to sell 4,000 units of its digital cameras during ‘Onam’ compared to 2,500 units last year, Bharadwaj said.
Canon has slashed the prices of four models of digital cameras, positioning them below Rs 10,000.
The market size of the camera industry is 2 million units and is growing fast. It is expected to reach 10 million units by 2015, he said.
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In its Ixus life style cameras category, Canon has seen a 175 per cent growth in Jan-June this year, while the Digital SLR is growing at 320 per cent over the last 6 months, he said, adding cameras are increasingly being preferred as unique gift items.
Canon’s product portfolio extends over a variety of photocopiers, multi functional peripherals, fax machines, printers, scanners, digital cameras, among others.
Canon, which is aiming to become a billion-dollar company with a revenue of Rs. 4,500 crore by 2015, also launched IXUS 300HS ultra compact camera today.