Ricoh India Limited, a leading player in Printing
& Document Solutions and IT Services, today announced a 5 to 8%
increase in the prices of their Office Products & Services.
“The Indian Rupee has dropped drastically, and is at a record low of Rs. 60.70 vis-à-vis USD. In spite of the huge depreciation of Indian Rupees, we have been trying to hold on to our sales prices to our Customers/ Channel Partners till now, hoping that the situation would improve soon”, Tetsuya Takano, MD & CEO of Ricoh India, said. ”The depreciation of INR is more than 12% since March 2013 which directly impacted the cost of imports of all our products, spare parts and consumables. We are now constrained to increase the prices of our Office Products and Services by around 5 to 8%, so as to at least partially cover the impact.”
“India is a high growth market for Ricoh and we have ambitious plans here”, Mr. Takano said “from around Rs 300 crores in FY 11, we planned to expand to Rs 1,000 crores by FY’13. During the financial year ended as on 31 March 2013, we have already touched revenue of Rs 633 crores, which is around 47% over the previous year. We will continue to bring the best of technology at affordable price points to our customers, to rapidly expand across our businesses segments.”
On enquiring on the possible effect of price increase on the sales, Mr. Takano said “Customers are now looking for true ‘value for money’ proposition rather than just low price tags. Hence, I don’t think this price increase will have any major impact on sales, as we will continue to focus on providing value to our Customers through Productivity, Security, Compliance, Workflow Improvement and Total Green Office Solutions.”
The price increase will be implemented with effect from 1st July 2013.
“The Indian Rupee has dropped drastically, and is at a record low of Rs. 60.70 vis-à-vis USD. In spite of the huge depreciation of Indian Rupees, we have been trying to hold on to our sales prices to our Customers/ Channel Partners till now, hoping that the situation would improve soon”, Tetsuya Takano, MD & CEO of Ricoh India, said. ”The depreciation of INR is more than 12% since March 2013 which directly impacted the cost of imports of all our products, spare parts and consumables. We are now constrained to increase the prices of our Office Products and Services by around 5 to 8%, so as to at least partially cover the impact.”
“India is a high growth market for Ricoh and we have ambitious plans here”, Mr. Takano said “from around Rs 300 crores in FY 11, we planned to expand to Rs 1,000 crores by FY’13. During the financial year ended as on 31 March 2013, we have already touched revenue of Rs 633 crores, which is around 47% over the previous year. We will continue to bring the best of technology at affordable price points to our customers, to rapidly expand across our businesses segments.”
On enquiring on the possible effect of price increase on the sales, Mr. Takano said “Customers are now looking for true ‘value for money’ proposition rather than just low price tags. Hence, I don’t think this price increase will have any major impact on sales, as we will continue to focus on providing value to our Customers through Productivity, Security, Compliance, Workflow Improvement and Total Green Office Solutions.”
The price increase will be implemented with effect from 1st July 2013.
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