Companies

Canon pegs 20% growth in office imaging solutions revenue at Rs 350 cr

PTI New Delhi | Updated on November 13, 2017 Published on February 22, 2011

Mr Alok Bharadwaj, Senior Vice-President, Canon India Ltd. (file photo)   -  Business Line

Canon India has said that it expects 20 per cent growth in its office imaging solutions division’s revenue to Rs 350 crore in 2011.

“India continues to build strong consumption, as well as investment momentum. With sustained 9 per cent GDP growth, we should begin to witness higher level of entrepreneurial depth,” the Canon India Senior Vice-President, Mr Alok Bharadwaj, said in a statement.

Mr Bharadwaj mentioned that India Inc prints and copies over 60 billion documents a year, translating into a cost of Rs 10,000 crore a year, which is growing at 20 per cent per annum.

Canon India recently announced plans to merge its enterprise solutions division for large enterprises and channel network for the SME segment into one division called the office imaging solutions division.

“We expect this division to grow revenues by 20 per cent to touch Rs 350 crore in 2011. This newly formed division will have 162 sales and marketing staff,” he said.

Meanwhile, the company today announced the appointment of Mr K. Bhashkar as director of the office imaging solution division.

This business-to-business division was one of the major contributors to Canon’s overall business in 2010, contributing more than 25 per cent to the total revenue.

Published on February 22, 2011
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