Canon Singapore’s subsidiary, Canon India has an aim to achieve the sales turnover of Rs.800 crore this fiscal year. Just from the camera business, the company, whose last year turnover was Rs.665 crore is expecting 33 percent revenue this year. 

The Vice President of Canon India, Alok Bharadwaj said that the camera business has seen a 27 percent growth in the first six months of this year. Canon is a top market player in the digital SLR camera with a market share of 54 percent. 

The company is trying hard to achieve the sales target, as part of its three-pronged strategy; they will increase its penetration to more towns, organizing the Canon League programme (CLP) and festival sales schemes. In next three years, company aims to increase its penetration in a phased manner to 500 towns (at present 200), with over 2,000 outlets all over India. According to Bharadwaj, by December this year, the company would be present in all the Tier 1 and II cities. 

Canon's overall average growth in India is 19 percent. The Onam festival in Kerala would be a great benefit to achieve the target for the company this year. Especially for Onam, Canon has launched a new range of cameras. Today, the company has opened its ninth exclusive store in Cochin. Kerala accounts for the six percent of the total sales of Canon. 

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Posted by Naresh Koshti on 14 August, 2009 11:52:42 AM IST #