Canon India, a 100% subsidiary of Canon Singapore Pte Ltd, which forayed into managed print services (MPS), a year ago, expects 25% y-o-y revenue growth from the sector. The company entered MPS as part of its document management and consultancy business.
Fifteen companies have subscribed to its services this year, including big names like MindTree. MPS is one of the three verticals Canon operates in the country, which currently contributes about 30% to the overall revenues from the country.
Under MPS, Canon takes care of the overall infrastructure needs of a company, related to documentation.
?We have some of the big corporates subscribing to our services and one of them is MindTree. A business2business (B2B) approach is more profitable that a B2C business because of the involvement of service and consultancy,? said Alok Bharadwaj, senior vice president, Canon India. In 2009, Canon India clocked a revenue of Rs 840 crore.
Bharadwaj expects revenueto touch Rs 1,200 crore by December 2010, a growth of 43% year-on-year. In India, the company has a large distribution network, but has not forayed into retailing their products yet through exclusive Canon stores.
Bharadwaj added that the company sells its products like cameras and printers through 4,000 outlets within the country.
The photo space is the fastest growing for the company, with its Digital SLR segment experiencing 100% growth. Of a market for 20 lakh units for digital SLR cameras, it has a 55% share.
