Canon sees double-digit growth in key segments in India

Ayushi Kar Mumbai | Updated on October 10, 2021

Manabu Yamazaki, President & CEO, Canon India

India is the biggest frontier market for the company, says Canon India President & CEO Manabu Yamazaki

Japanese electronics major Canon has seen immense growth across all verticals in India during the Covid-19 pandemic due to rising partnerships in the burgeoning OTT, ed-tech space, and a new crop of content creators using Canon products as new popular digital applications soar.

Canon is seeing double-digit growth from segments that have gained popularity during the pandemic. This includes vloggers and content creators, virtual classrooms, OTT segment, where Canon has gotten great leads for their cinematography range of products including EOS C70. Canon has also seen double-digit growth for their home office range of inkjet printers.

Newly appointed Canon India President and CEO Manabu Yamazaki told BusinessLine that India is the biggest frontier market for the company and one of the most important markets in Asia. “The new products launched by Canon India last year have shown exponential growth, recording more than 1.5 times growth over last year in the Mirrorless camera category,” Yamazaki said.

According to Yamazaki, Canon has also seen immense spike in their solutions business seeing significant growth of 35 per cent over previous years. For the next financial year, they believe that the business will increase by another 15 per cent. The overall office automation business will see a growth of 12 to 15 per cent.

New marketing concept

In light of the uptick in demand and the newly emerging use cases for their products, Canon has launched a new marketing concept in their physical stores. The first store with this new format, CIS 4.0 was launched in Mumbai on October 7, and Yamazaki promises that there will be fifty additional stores like this by the end of five years.

The CIS 4.0 concept aims to make the retail experience immersive for customers by making Canon products relatable to the new applications.

The CIS 4.0 Stores will include four interactive zones specifically designed for customers to have in-depth knowledge and experience genre-specific photography needs.

The four zones are wedding, wildlife, vlogging and family, enabling the customers to simply walk into these stores and seek an understanding of the specialised solutions, by engaging in roundtable discussions with a highly trained technical staff.

“Known globally for its innovation and entrepreneurial capabilities, the country (India) holds great potential to build world-class products and technology. We are committed to this market and look forward to building on our track record of success and innovation while continuing to deliver value and delight to all our stakeholders,” Yamazaki said.

Published on October 10, 2021

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