With more products in the B2C (business to consumer) and B2B (business to business) segments up its sleeve, Canon India is targeting 15 per cent top line growth in 2015.

It posted ₹2,035 crore turnover last year – clocking a 6 per cent growth over the previous year.

“As the rupee remains stable, we expect a decent growth in our bottom line too,” Kazutada Kobayashi, President and CEO of Canon India Pvt Ltd, told BusinessLine.

Thanks to the sharp rupee depreciation in 2012, Canon suffered a “huge setback” that year. “After that, we have been recovering and squared all our losses last year,” he said.

Under the consumer products category, Canon’s flagship product is camera, followed by inkjet printers.

The camera market in India is dominated by Canon and Nikon, “and we are neck-and-neck there,” he said. It recently launched a range of higher zoom ratio cameras under the ‘compact’ category.

Similarly, it expanded the range of its inkjet printers with new products.

Though inkjet printers are usually targeted at households, the new Maxify range is made with small businesses in mind, he said.

In the B2B segment, Canon has copiers and printers, where it competes with brands such as Ricoh, Konica Minolta and Xerox. “We command 30 per cent share in the market,” he said.

Though according to him India is a key focus market, it currently accounts for a little over 1 per cent of the Canon’s global business.

“As of now, India is among the top five fastest growing markets for us in the world, and we expect it to start contributing significantly to our global business in the next couple of years,” said a confident Kobayashi.

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