US$ 69.3 million in 2005, an increase of 18 per cent in comparison to that of 2004.
television customer-base to around 85 million. Canon India feels that an increase in the product range, a gain in its market share and an expanded penetration in the market will drive the company’s growth in the coming years.
Factors for Success
Adopting a consumer-centric strategy and new product launches In April 2005, Canon India adopted a consumer- centric strategy to shift its focus to digital imaging entertainment from the earlier ‘PC-centric’ focus. In 2005, as a part of this strategy, Canon announced the launch of 28 new products across various categories to enhance its presence in the digital technology domain.
Retail initiatives Canon realises that the Indian retail sector is poised to become the largest market in the world in the next few years. It has, therefore, been expanding its retail initiatives in three domains. These include IT, photo and audiovisual segments. Some of the company’s strategic moves include:
In line with this new strategy, the company has over the past few months successfully developed and launched products in several segments including digital camcorders, digital cameras, projectors and printers that connect to television sets, and therefore, has been able to expand its
Canon IT Imaging Zones Canon IT Imaging Zones is the company’s IT retail model.There are currently 140 IT Imaging Zones in the country and this is expected to increase to 300 by December 2006. Canon believes that these retail stations will provide consumers with a better touch and feel experience for the IT products.