To counter the slowdown, Canon India has drawn up new marketing and distribution plans to increase its market share for its IT peripheral products in the local market, especially the B and C class of cities.
The company expects a revenue of Rs 15 crores at the end of this year, which would be the same as achieved in the last year. With total restructuring of its peripheral business, it hopes to increase the market share in the overall printer market to 18 per cent in the next two years.
According to industry reports, last year Canon had less than four per cent market share in terms of unit sale in the inkjet printer segment compared to HP’s 74 per cent and Epson’s 17 per cent.
In order to widen the market coverage, Cannon went in for regional distributors. The company has increased its staff strength from 4 to 28 with the creation of around 50 care centres covering 25 cities to take care of local service needs.
The company expects to touch a revenue figure of Rs 500 crores in the next three years with peripheral division contributing more than 20 per cent.