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    Canon remains defiant to economic slowdown, launches 85 new products

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    Despite global economic slowdown and market recession, Pvt Ltd, a 100 per cent subsidiary of , has launched 85 new products to add with its 145 existing portfolio.

    The company has also announced its decision to focus on three strategic directions for 2009 that include planning for 30 per cent growth, operational excellence and enhancing return.

    As part of the plan, Canon has opened three exclusive showrooms with an investment of Rs 200 million, one each in Delhi, Mumbai and Bengaluru, displaying over 100 consumer products. However, it is not concentrating to increase the number of such showrooms in the coming years.

    The products launched today are across three divisions that include imaging communication products (ICP), consumer system products (CSP) and business imaging solutions (BIS).

    Speaking on the occasion, , president and CEO, Canon India, said, “It has always been Canon’s endeavour to delight customers with breakthrough technology packed in contemporary style and design. Today we continue the momentum with the widest range of products with the divisions being introduced.”

    While justifying the launch of a whole breed of products amidst economic slowdown, Konishi added, “When other industries like car industry are facing problems due to economic slowdown, our business equipment industry is not facing such problem, which is quite evident from our current market condition.”

    The company has also announced plans to hike the prices of its existent products by 5 to 15 per cent, which is being implemented for ICP and will be done for CSP soon.

    —Sarimul Islam Choudhury