Digital imaging company Canon India said on Friday that it will increase prices of all its products by five per cent by this November-end
CHANDIGARH: Digital imaging company Canon India said on Friday that it will increase prices of all its products by five per cent by this November-end as dollar volatility has made imports expensive.
"We will be raising prices of all our products, including cameras and digital imaging items, by 5 per cent as imports have become costlier because of the appreciation of US dollar against rupee," Canon India Director Shunichi Senda said here on the sidelines of Canon Image Fest.
He said although the rupee has depreciated around 20 per cent against dollar, "yet we will be absorbing the part of the burden caused by costly imports".
Canon India, a 100 per cent subsidiary of Canon Singapore Pte, import products from Japan, Taiwan, China and Malaysia for the distribution and marketing in the Indian market.
On being asked about the impact of global slowdown on the the company's sales, he said Canon in India has not observed any sort of negative impact on its market share and sales.
The company is expecting total sales worth Rs 700 crore from the Indian market by the end of this year, compared with Rs 510 crore achieved in 2007. "This year, we are hopeful to touch 40 per cent jump in our total sales against 30 per cent growth witnessed in 2007," he informed.
Canon India, which claims to have 20 per cent share in total camera market, sells 145 comprehensive range of contemporary digital imaging products that include photocopiers, multi-functional peripherals, fax machines, printers, scanners and other multi media products.
It has offices in seven cities across India and employ over 730 people. Canon has 3,000 secondary retail points and plans to increase outlet strength to 4,000 by December 2008.
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