[Canon launches DreamLabo in Bengaluru]
Canon India Executive Vice President Alok Bharadwaj who made a presentation during the launch of the DreamLabo 5000 said, "Canon is looking for Rs 15 crore revenue out of DreamLabo in 2014". Canon classifies this as a commercial photo printing business. "We are setting a goal of Rs 100 crore in five years," Bharadwaj added.
The big picture according to Bharadwaj is the Rs 3,072 crore commercial photo printing market which Canon is aiming to transform.
To promote this business and to impact a larger ecosystem, Canon organised en evening networking sessions which comprised photo labs, wedding photographers, wedding planners and event agencies in South India.
Bharadwaj said, "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." The DreamLabo is targetting this segment.
He added, "Delivering a new standard of combined photo and text quality together with high productivity, the DreamLabo offers the production photo printing market a viable alternative to silver hailed technology, which will revitalise the photo printing market in the country."
Canon hopes to close 2013 with Rs 1,908 crore in revenues, showing 3 per cent growth from the Rs 1,850 crore in the previous year. 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.
PPP includes the range of Imagepress; and Oce products along with the recently laucnhed DreamLabo. Canon has notched up more than hundred ImagePress installs in India; and Bengaluru has a healthy base of 21 Imagepress. This includes the installation of an ImagePress 7010 VP a week ago at Vinayaka Digital Press in JP Nagar.