Canon eyes Rs 100 cr from digi photo printing

Canon on Tuesday announced foray into digital commercial photo printing business as it aims to transform the Rs 3,072 crore commercial photo printing market.

The company, who is going to close 2013 with Rs 1,908 crore in revenues, showing 3 per cent growth from Rs 1,850 crore in the previous year, introduced DreamLabo 5000 commercial inkjet printer equipment targeting the retail photo and album printing industry, marking its entry into a new business domain.

At present, 46 per cent of its revenues come from sale of cameras; 24 per cent come from enterprise segment; 25 per cent from peripherals and 5 per cent from commercial business. The commercial segment makes up the professional printing products (PPP) which earned them Rs 95 crore in 2013.

The company follows calendar year in financial reporting.

The commercial photo printing market in India is estimated to be Rs 3,072 crore, out of which only 10 per cent is digital.

“We plan to get Rs 15 crore from the digital commercial photo printing in 2014 and expect to garner Rs 100 crore from the business segment by 2015,” Canon India Executive Vice-President Alok Bharadwaj said.

GK Vale, a Canon India premium partner from Bangalore, operating nine Canon Image Square stores in the city is the first customer to purchase the digital commercial photo printer.

“To promote this business and to impact a larger ecosystem, Canon organised a meet comprising of photo labs, wedding photographers, wedding planners and event agencies in Bangalore,” Bharadwaj added.

The Indian wedding industry is valued at Rs 10 lakh crore ($182 billion) and the wedding photography market is estimated to be around Rs 1,800 crore.