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Canon bullish on India

NEW DELHI: Despite global economic slowdown and liquidity crunch, Canon is still bullish on India and is planning to launch 100 new products in 2009, introducing path-breaking, customer-friendly technologies. The imaging technology major that has a leading share in India’s camera and digital video markets will also be expanding its presence by adding more distributors and retailers.

“This year too we will be adding 100 new products across various segments. The new products for business customers will focus on enhancing their productivity and cost saving, while for a general customer, it would be products with superior artificial intelligence (processor) and focus on convergence to suit their needs and demands,” Alok Bharadwaj, Senior Vice-President, Canon India Pvt. Ltd., told The Hindu.

“Our high product replacement rate or ‘churn rate’ every year reflects our innovation prowess. Every year, we introduce better products, offering our customers latest technologies at affordable prices. We are focussing on better lifestyle products to meet growing demand of our customers. Last year, we introduced cameras and camcorders with flash memory, making the products slimmer, besides revolutionising home printing through a photo printer at Rs. 6,000 that allows printing on ordinary paper. This year, we have a few more surprises for our customers,” said Mr. Bharadwaj.

Canon is also investing on building strong relationships with its customers. “Our exclusive website for customers is already a hit, while we have opened four world-class service centres in Delhi, Mumbai, Bangalore and Kolkata to provide service of international standards to our customers and to meet future needs,” he added. Talking about the company’s financial performance in 2008, Mr. Bharadwaj said Canon’s revenue stood at Rs. 665 crore against Rs. 510 crore in 2007. “We saw a growth of 31 per cent last year against 38 per cent registered in 2007.

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