The Telegraph
Wednesday , January 30 , 2013
Since 1st March, 1999
CIMA Gallary

Canon shifts focus

New Delhi, Jan. 29: Japanese imaging major Canon plans to focus on new products such as compact movie cameras and commercial printers to minimise the impact of slowing sales of consumer point-and-shoot cameras.

The company, which has a target to grow more than 27 per cent in 2013, is also shifting focus from entry-level cameras to high-end SLR and DSLR cameras to overcome the challenge of smartphones with high resolution imaging capabilities eating into the sales of compact cameras.

“Compact movie cameras come at a fraction of the cost of a traditional movie camera and considering the slew of low-cost Bollywood movie being made in India, we foresee a huge potential,” said Canon India president and CEO Kazutada Kobayashi.

While new businesses (commercial printers, medical imaging products and movie cameras) comprise a small per cent of the revenues, Koba-yashi said Canon expected this vertical to contribute as much as 25 per cent in three years. At present, the consumer and commercial segments contribute equally to Canon India’s revenues.

Canon, which sold 50 units of the movie camera Cinema EOS last year, is targeting sales of 200 in 2013. The Cinema EOS is priced at Rs 15 lakh onwards and has a strong consumer base in US.

The company is targeting revenues of Rs 2,350 crore by the end of 2013 and Rs 5,500 crore by 2016 from Rs 1,850 crore in 2012.

Canon gets about one- third of its revenues from cameras, while the rest of its income comes from printers and copiers as well as commercial printers.