While single-function printers constitute bulk of sales in India, multi-function printers (MFP) are catching up fast. To get a better share of this fast growing segment, companies such as Cannon and HP have launched new printers.
Japan-based Ricoh is setting big targets from this segment. The Indian subsidiary of the firm has launched three new entry-level multi-function laser printers recently. Around 1.4 million printers are sold in the country every year.
“A4 laser printer constitutes a major share of the printers market in India. Even as single-function printers continue to grow at a fast pace, we are witnessing faster growth in the MFP space,” said Tetsuyo Takano, managing director and chief executive officer of Ricoh India.
The Japanese imaging solution company is targeting total income of Rs 1,000 crore in India till the end of March, 2014 on the back of new launches and expansion of the dealership network.
“Revenues for the financial year ending March stood at Rs 432 crore. We want to take it to Rs 1,000 crore by 2014, for which we would be expanding our footprints in India,” Takano said.
Ricoh is also aiming to be among the top printer vendors in the Indian market, which is dominated by the likes of HP, Canon, Epson and Samsung.
The entry-level segment of laser printers constitutes 80 per cent of the total laser printer market. The company claimed the three models would bring down the total cost of ownership by about 70 per cent. It is targeting sales of 100,000 units of printers in this financial year.
According to Gartner, the combined market of serial inkjet and page printers, copier and multifunction product (MFP) in India saw 5.9 per cent decline in sales in the March quarter compared with the same quarter of FY11.
On expansion plans, Takano said, “In addition to our existing partners, we are expanding our channel presence by appointing over 800 printer partners and system integrators in FY12.”