Konica Minolta Targets Double India Revenues by 2016

Konica Minolta claims it expects to more than double its India revenues to Rs 5 billion (about USD $82.52 million) by the end of fiscal year (FY) 2015-16

In the words of KM Business Solutions Managing Director Tadahiko Sumitani, “We established our Indian office in August 2010 and by Fiscal Year (FY) 2012-13, our turnover stood at Rs 2.3 billion (about USD $37.96 million). This fiscal year we expect revenue of Rs 3 billion (USD $49.51million) and by FY 2015-16 it should reach Rs 5 billion (about USD $82.52 million),”

Mr. Sumitani made these projections while speaking at the launch of Konica Minolta’s Product Experience Centre, in which it has invested Rs 60 million approximately (USD $1 million).

He also pointed out that the company has set a target to achieve 25% market share in the office printing machine business and boost its production printing business beyond its present share of 50%.

“The demand for monochrome printing machines at enterprises is around 100,000 units per year and color printing machines are estimated to be around 8,000 units. We are looking for 25% market share in this segment over a period of the next two years,” he explained.