Canon eyes 30% share of India's inkjet printer market

New Delhi: Japanese electronics major Canon today said it aims to garner 30 per cent share of the inkjet printer market in India as it expands its product portfolio and distribution network in the country.

Currently, Canon claims to have 20 per cent share of the segment.

"We see a lot of opportunity in the Indian market. Home buyers are buying printers for their children's school work... We are expanding our portfolio and we hope to increase our share to 30 per cent by December next year," Canon India President and CEO Kazutada Kobayashi told reporters here.

He added that the company will also expand the number of its exclusive outlets from 166 now to 180 by year-end and 250 by December next year.

According to research firm CMR, 3.35 lakh units of inkjet printers were shipped to India in the first quarter of 2015, higher by 4 per cent from the year-ago period.

The company today launched its new range of 'PIXMA G Series' printers, priced between Rs 9,595 to Rs 16,795.

"The new range offers a print cost as low as 8 paise per print for mono prints and 21 paise per colour print. The target market for this series is photo centres, copy shops and SOHO customers," he said.

Desktop printers account for 30 per cent of Canon India's revenues. Canon also has cameras, scanners and industry printers under its portfolio.

Asked about the marketing, Kobayashi said the company is spending about Rs 14 crore this year on branding and promotional activities.

"We will spend Rs 50 million (Rs 5 crore) on the G series alone," he added.