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Friday, August 01, 2014 
Business Wire

Ricoh India to Increase Prices due to Rupee Depreciation

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.

About Ricoh

Ricoh is a global technology company specializing in office imaging equipment, production print solutions, document management systems and IT services. Headquartered in Tokyo, Ricoh Group operates in about 200 countries and regions. In the financial year ending March 2013, Ricoh Group had worldwide sales of 1,924 billion yen.

The majority of the company's revenue comes from products, solutions and services that improve the interaction between people and information. Ricoh also produces award-winning digital cameras and specialized industrial products. It is known for the quality of its technology, the exceptional standard of its customer service and sustainability initiatives.

Under its corporate tagline, imagine change, Ricoh helps companies transform the way they work and harness the collective imagination of their employees.

For further information, please visit www.ricoh.com/about/

About Ricoh India

Ricoh India Limited is a Public Limited company with 26.4% by Public and 73.6% owned subsidiary of Ricoh Company, Limited, Japan - over US$ 19 billion global giant and a leader in the field of Imaging Solutions, The company is a leading player in the area of Imaging Solutions. All Ricoh products come with a hallmark of quality, technological excellence and after-sales service. Ricoh India operates through a wide network of 18 Branches, 5 Area Offices and over 2000 Dealers and Business Associates with well-trained sales and After Sales Service force. The company is a major player in the areas of Managed Document Services, IT Services (including Software Development Cloud Services), Production Printing and Laser Printers, in addition to A3 MFPs, Mono and Color.

Date :
28-06-2013 02:23 PM

Contact :
Deepa Menon, Marketing Manager, Ricoh India Limited, +91 9717222093