In an attempt to create more demand and sales figures in the highly competitive camera market segment, Canon India has decided reduced the prices of their 16 camera models including 13 mid- and entry-level cameras and 3 digital SLRs (DSLR) by 10 per cent, starting from September 19.
Canon India Senior Vice-President, Alok Bharadwaj reportedly said in a report, "To attract customers this festive season, Canon has dropped prices of 13 digital cameras and three DSLRs as part of our overall business plan. The drop ranges from Rs. 500 to Rs. 11,000.”
Canon India has dropped prices of selected camera models by up to Rs 11,000 and it has also announced plans to invest Rs 142 crore in marketing and brand promotion this year.
Apart from launching two digital camera models, the company is looking forward to increase the current retail presence to 100 exclusive brand stores in over 50 towns, from the 75 stores in 45 towns.
"We introduced 25 products in 2012 and now offer 36 models to take the consumer experience with Canon to the next level. Canon is all set to achieve Rs. 2,100 crore revenue in 2012 with 32 percent growth over 2011, a step in line with USD one billion revenues by 2015," he said.
Following price cuts, the entry-level digital cameras will now be priced at around Rs 4,000 while entry-level DSLRs will be priced starting Rs 25,000.
For the occasion of Onam in August, Canon slashed the prices of 5 models of Canon PowerShot Series models including A1200, A2300, A2400, A3400 and A4000, 4 models of Canon IXUS series including IXUS 125, IXUS 240, IXUS 500 and IXUS 510 and 2 models of Canon PowerShot SX series such asSX 240 and SX 260.
As part of the Onam festive offer, Canon also offered a 4GB SD card and a carry case to each customer on the purchase of a digital camera.