Canon eyes Rs 175 crore revenue

Digital imaging firm Canon announces that it aims to churn out Rs 175 crore revenue from printer business . Canon claims to have 29 per cent share of the inkjet market, and estimates the inkjet market to be around Rs 1,400 crore or 12 lakh units in sales. Despite flat market Canon is confident of 25 per cent growth in revenues from inkjet printer segment. "We expect inkjet printers to contribute about 9 per cent of our total revenue. This would be about 175 crore this year. We are seeing 25 per cent growth in sales, though for the industry the growth is flat at just about 4 per cent," Said Alok Bharadwaj, Canon India vice-president. He further said Canon expects contribution from inkjet printers to grow to 12 per cent in the next two years.