New Delhi, May 9: Canon India today said it expected to double its revenues to Rs 800 crore by 2008. The company hopes to add another one million customers over the next two years.

“There is a huge potential and the market is growing by the day,” said Alok Bharadwaj, vice-president, Canon India.

The company recorded a turnover of Rs 400 crore in the last fiscal and expects a 40 per cent growth in revenues in the current fiscal to touch the Rs 550-crore mark

To reach this target, the company has reorganised its sales and marketing structure into four divisions. These are consumers systems, image communications, business imaging solutions and business imaging direct sales operations division.

Canon is present in India since 1997 and sells over 100 digital imaging products. The company today launched 24 products, including digital cameras, compact photo printers, video camcorders, inkjet printers, laser printers and projectors.

These products are available at a price range of between Rs 2,995 and Rs 5,50,000. According to Bharadwaj, the company will also double its number of dealers to 3,000 this year, besides taking the total count of flagship stores to 600 from 416.

The company will open showrooms in Delhi and Mumbai by the end of this year, followed by Calcutta and Bangalore next year. Canon India also sells its products through retail chains. It hopes to earn 15 per cent of its turnover from sales of cameras in retail stores.

Bhardwaj said the company has tied up with 13 retail chains, including Reliance Retail, the Future group, Ezone and Hypercity to sell its digital camera series Ixus.

“Sales through retail chains contribute two per cent to our digital camera sales and with these tie ups we expect retail sales to add nearly eight per cent to the figure,” Bharadwaj said.

The digicam market is estimated to be at Rs 1,000 crore and is growing at 60 per cent year-on-year. According to estimates, it is expected to touch Rs 4,500 crore by 2010. Canon India has a 30 per cent share in the digital camera segment. Its rivals are Sony and Kodak.