Ricoh targets Rs 1,000 cr revenue in next 2 years
Ricoh India Limited, print solutions major has set a revenue target of Rs 1,000 crore in the next two years, according to Chief Marketing Officer V Balakrishnan.
For the last fiscal the company earned revenue of Rs 432 crore in India and plans to increase it by 46 per cent to Rs 630 crore in FY’13.
“The laser printer market is growing at a rate of 12 per cent and we will make the most of it,” he said. The company, that has always been into A3 network laser printers, on Saturday, made its foray into the low-end entry-level laser printers for home users as well as the small and medium businesses.
“We were missing out on an important segment which has so much potential,” said Balakrishnan. According to industry figures, Indian printer market constitutes of 1.4 million units, of which 70 per cent is the entry-level laser printers.
The new single function laser printers are priced at Rs 6,500 and Rs 9,900, whereas the multifunction laser printer is priced at Rs 12,800. With these entry-level products coming up Ricoh plans to sell 100,000 units in this fiscal and wants to strengthen their India presence.
Ricoh is also going to double its service points across the county from the present 220 to more than 470 in FY’13.