DQ Top 20:#47 Canon India: Aggressive Moves

CEO: Kazutada Kobayashi www.canon.co.in

In FY13, Canon India grew by 13% with revenues growing from `1,636 crore to `1,850 crore. It signicantly deepened its customer base with wins like Ranbaxy, Maruti Suzuki, Yes Bank, and legal firm Anand. Canon also enhanced its managed document services business which has about 86 clients. Out of the `250 crore market for managed document services, Canon aims to clinch about `100 crore business. The company also strengthened its camera business with 40 models in its kitty and intends to capture 45% marketshare in the DSLR category and 25 % in the digital compact camera segment in 2013.

However, Canon decided to do away with its entry-level compact cameras in favor of more advanced models because the company is facing a stiff challenge from the rise of smartphones, most of which are packed with high-pixel cameras. It had an impact on the sales as well. Plus it reduced the prices of some of its cameras to catch on the race.

Highlights

• Expanded its consumer and office imaging service facilities in Rajasthan
• Unveiled three new in-studio printers