Aiming to capture 20% of India's fast growing digital camera market, the Japanese MNC Canon has launched a wide range of digital cameras and video camcorders for home and professional users.
The digital cameras have completely changed the photography market as they facilitate instant snapshot results and the users can even print or e-mail them reducing their dependence on film and photographic paper. But the going may not be so smooth as the camera and office equipment maker Canon Inc. is going to face stiff competition from Sony and Kodak in the Indian market.
"The Indian digital photography market is growing at over 77 percent per year and is expected to grow from 30,000 units in the year to March 2002 to 54,000 units this year," said Alok Bharadwaj, General Manager-Consumer Imaging and Information Division, Canon India Pvt Ltd.
Citing IDC research reports, Bharadwaj claimed that digital cameras are going to account for about 18 percent of India's total camera market of Rs.7.32 billion this year. In volume terms, it is still a small segment. The sales of digital cameras are expected to be about 54,000 units this year out of total camera sales of an estimated three million units.
"Canon has aggressive plans for this segment. In the next eighteen months, it is looking at capturing 20 percent of the Indian digital camera market," Bharadwaj added. Canon's digital cameras' price ranges between Rs.15,000 - Rs.5,40,000. Canon India, which is in photocopiers and printers segment as well plans to more than double its total revenue from Rs. 2 billion last year to Rs. 5 billion by the end of year 2005.