Canon India Targets Growth in Digital Camera Sales
Sep 22, 2004
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Canon India is eyeing more than 200-percent top-line growth in the next 3 years, largely helped by increasing sales of digital cameras.
"Our aim is to have a sales turnover of Rs 7 billion (approx. U.S. $153 million) by 2007 over Rs 2.3 billion last year," Alok Bharadwaj, Canon India director and general manager, said told. "With increasing volume of digital cameras, we will have 30-percent market share by then."
At present, the digital camera market stands at Rs 1 billion (approx. $21.9 million). The digital camera industry is expected to touch Rs 6 billion by 2007, and the segment will contribute Rs 1.8 billion to Canon India's overall revenues by 2007.
India and the Philippines were the only two markets in Asia where the analog camera market was bigger than digital camera industry.
"We see a major shift towards digital cameras from analog ones. In India, digital cameras will overtake analog cameras," Mr. Bharadwaj said. (PTI)
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