Canon India has revealed that the company has registered 32% growth in the first six months of 2012 driven by a strong 60% growth in its camera business.
The company announced that the substantial increase in its market share was a result of aggressive marketing, new product launches, attractive pricing, retail expansion and portfolio expansion-citing Canon’s entry into the cinematography domain with the launch of its Cinema EOS C300 camera.
Canon’s marketing spends comprise of almost 72% of Canon India’s overall marketing budget of INR 142 crores for 2012. This year, the camera division also has significantly increased its marketing budget – from INR 76 crores in 2011 to INR 102 crores in 2012 – an increase of over 34%.
During this year’s Onam celebrations, Dr. Alok Bharadwaj, Senior Vice President, Canon India, said, “We have exceeded our retail reach this year to 2992 retailers spread across 620 cities. The number of our partners in Kerala has reached 102, spread across 22 cities. While overall the camera business has grown at a record 60%, the growth in Kerala has been phenomenal. At 110%, Kerala has registered the highest growth for Canon.”