Companies

Canon eyes 25% market share

Our Bureau Kochi | Updated on August 23, 2012 Published on August 23, 2012

Canon India has planned a marketing spend of Rs 40 crore for the festive season, starting with Onam, to achieve 25 per cent market share target. Last year, the company had clocked 14 per cent share.

Alok Bharadwaj, senior vice-president, Canon India, said the company was also expanding its image brand stores to 100 by the end of this year.

Canon has 73 image brand stores in over 42 towns and cities. All this would help the company to reach sales revenue of Rs 2,100 crore in 2012, he said.

Bharadwaj, who was here in connection with unveiling Onam offers, said that Kerala has registered the highest growth for Canon at 110 per cent.

The company is planning open 10 image brand stores in the State by next year from the present one in Kochi, he said, adding that the company also announced price reduction for 11 camera models.

Canon has registered 32 per cent growth in the first six months of this year driven by a strong 60 per cent growth.

The substantial increase in its market share was a result of aggressive marketing, new product launches, attractive pricing, retail expansion and portfolio expansion, he added.

Canon has a substantial market share in Kerala and plans to further its leadership during the current festive season. To consolidate this lead, it has launched a new range of 21 camera models and 9 new lenses, he said.

Published on August 23, 2012
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