Canon India, which has entered the Indian projector segment, aims to capture 10 per cent of the market share by 2017.
The company launched nine LV and XEED series projectors on Tuesday.
The company had so far been present in the domains such as digital cameras and DSLRs, business machines, personal and commercial printers.
Kazutada Kobayashi, President and CEO, Canon India, said: “We expect to see growth in all the four domains that we operate in… Projectors will be the strong fifth domain for our future growth. We expect this segment to become a strong growth driver for us in the long term.”
The company expects to earn about ₹100 crore worth of revenues from the projector segment by 2017.
Kobayashi added: “Projection requirements of Indian customers have evolved over the years. Apart from office use, it’s also finding space in homes for projecting movies, videos and games. We will be reaching out to the potential customers across all major metros and aim to capture 10 per cent market share by 2017.”
Overall, Canon India is aiming to grow its turnover by 14 per cent in 2015. The company’s turnover stood at ₹2,026 crore in 2014, added Kobayashi.
As far as projectors are concerned, Canon India has tied up with Ingram Micro as the national distributor for its volume products and will partner with AV integrated solution providers for high-end projectors.
In addition, the company will be using its own retail stores called the Canon Image Square to sell its projectors.
Talking about the digital camera business, Kobayashi said while the sales of point and shoot cameras may have seen a decline, the overall business for cameras is growing as consumers are increasingly looking at professional cameras like the DSLRs for high quality pictures.
Asked if the company has any plans to manufacture its products in India, Kobayashi said there were no concrete plans as of now for that.
India is one of the fastest growing markets for Canon globally.
The company’s effort to expand its B2B product portfolio in India is a step in the direction to grow the overall business in the country, he added.