To ride high on the festive boom, Canon India announced marketing investments of Rs.40 crore and plans for East India expansion on Wednesday along with the unveiling of super-telephoto PowerShot cameras, PS SX500IS and PS SX160IS.
Both the newly launched cameras are very handy as well as flexible taking the total number of cameras launched in 2012 to 25, informed officials.
The event also marked Canon India's plan to be bullish on East India expansion since West Bengal records highest growth in camera business amongst top 10 states by registering 110% growth in digicams and 200% in Digital SLR.
Despite the year being crucial for the camera industry due to consumer sentiments, Canon has managed to grab 60% of the growth.
"Report card for Canon can be considered impressive," said Alok Bharadwaj, Senior Vice President, Canon India.
The company also announced price drops on 16 models (13 digital and 3 DSLR) in preparation for the festive season by Rs.500-11000 and it plans to take exclusive Canon brand stores tally to 12 Canon Image Squares (Canon's franchisee brand store) in East India by Dec 2012 from current level of 8 in 6 cities.
Speaking on the launch, Bharadwaj said,"East India is a crucial market for Canon and has significantly contributing to the overall growth of the brand, especially to our camera business division."
"In fact, with some luck and some efforts in lifting the buying sentiments during festive times, Canon is expecting to cross much awaited milestone of 100,000 digital cameras and 10,000 Digital SLR in West Bengal this year. This is more than 10% of national sales just in one state. This has made Canon's market share more than 30% here."
While the festive budget for investments rests at Rs.40 crore for Bengal, the overall investment plan is as high as a whopping Rs.142 crore with 25 more Canon Image Squares about to open so as to touch the count of 100 stores in 50 towns form current level of 75 nationally.
All these robust plans would help the company achieve an overall target of 27% market share in East India by the end of the year and to reach revenues of Rs.2100 crore in 2012, with market share of 25% in cameras and 45% in DSLR category nationally, added officials.
The company that claims to provide the 4E's benefit of experience, education, excitement and engagement to its consumers also cashed in to open its ninth store before the Diwali at Shyambazar in Kolkata which would be a stand alone store.
The latest launched cameras are priced at Rs.19,995 for PS SX500IS and Rs.12,995 for PS SX160IS and as a part of the festive celebrations Canon is offering a 4GB SD card and a carry case to each customer on the purchase of every digital camera.
The company has also ventured into the cinema camera domain with Cinema EOS model providing high definition pictures to cater to the Bollywood projects that aim to produce low budget films.
Canon is all set to launch its next version of 'What Makes Us Click' campaign with icon Anushka Sharma in a playful moment amidst friends blowing conch to infuse the spirit of the festival.
While cameras contribute the majority, printers (both lazer and inkjet) contributed to Rs.1000 crore this year marking 30% growth as an industry.
The newly launched models were unveiled by Alok Bharadwaj. City model Subhamita Banerjee showcased them.
"Our effort is to reconfiguring the photography business in India with youth-centric propositions using a three-pronged strategy of celebrity endorsement, imaging brand stores expansion and faster portfolio churn with strong range.
"We introduced 25 new products in 2012 and now offer 36 models to take customer experience with Canon to next level," concluded Bharadwaj.
The event also marked Canon India's plan to be bullish on East India expansion since West Bengal records highest growth in camera business amongst top 10 states by registering 110% growth in digicams and 200% in Digital SLR.
Despite the year being crucial for the camera industry due to consumer sentiments, Canon has managed to grab 60% of the growth.
"Report card for Canon can be considered impressive," said Alok Bharadwaj, Senior Vice President, Canon India.
The company also announced price drops on 16 models (13 digital and 3 DSLR) in preparation for the festive season by Rs.500-11000 and it plans to take exclusive Canon brand stores tally to 12 Canon Image Squares (Canon's franchisee brand store) in East India by Dec 2012 from current level of 8 in 6 cities.
Speaking on the launch, Bharadwaj said,"East India is a crucial market for Canon and has significantly contributing to the overall growth of the brand, especially to our camera business division."
"In fact, with some luck and some efforts in lifting the buying sentiments during festive times, Canon is expecting to cross much awaited milestone of 100,000 digital cameras and 10,000 Digital SLR in West Bengal this year. This is more than 10% of national sales just in one state. This has made Canon's market share more than 30% here."
While the festive budget for investments rests at Rs.40 crore for Bengal, the overall investment plan is as high as a whopping Rs.142 crore with 25 more Canon Image Squares about to open so as to touch the count of 100 stores in 50 towns form current level of 75 nationally.
All these robust plans would help the company achieve an overall target of 27% market share in East India by the end of the year and to reach revenues of Rs.2100 crore in 2012, with market share of 25% in cameras and 45% in DSLR category nationally, added officials.
The company that claims to provide the 4E's benefit of experience, education, excitement and engagement to its consumers also cashed in to open its ninth store before the Diwali at Shyambazar in Kolkata which would be a stand alone store.
The latest launched cameras are priced at Rs.19,995 for PS SX500IS and Rs.12,995 for PS SX160IS and as a part of the festive celebrations Canon is offering a 4GB SD card and a carry case to each customer on the purchase of every digital camera.
The company has also ventured into the cinema camera domain with Cinema EOS model providing high definition pictures to cater to the Bollywood projects that aim to produce low budget films.
Canon is all set to launch its next version of 'What Makes Us Click' campaign with icon Anushka Sharma in a playful moment amidst friends blowing conch to infuse the spirit of the festival.
While cameras contribute the majority, printers (both lazer and inkjet) contributed to Rs.1000 crore this year marking 30% growth as an industry.
The newly launched models were unveiled by Alok Bharadwaj. City model Subhamita Banerjee showcased them.
"Our effort is to reconfiguring the photography business in India with youth-centric propositions using a three-pronged strategy of celebrity endorsement, imaging brand stores expansion and faster portfolio churn with strong range.
"We introduced 25 new products in 2012 and now offer 36 models to take customer experience with Canon to next level," concluded Bharadwaj.
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