Konica Minolta Targets to Double Revenues in India by 2016

Konica Minolta claims that it is expecting to more than double its revenue to Rs 5 billion (about USD82.52 million) by the end of financial year (FY) 2015-16 in India.

“We established our Indian office in August 2010. In FY 2012-13, our turnover in India stood at Rs 2.3 billion (about USD37.96 million). This fiscal year we expect revenue of Rs 3 billion (USD49.51million) and by 2015-16 it should reach Rs 5 billion (about USD82.52 million),” KM Business Solution’s Managing Director for India, Tadahiko Sumitani stated, at launch of Konica Minolta’s product experience centre, in which it has invested Rs 60 million approximately (USD1 million).

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

“The demand for monochrome printing machines at enterprises is around 1 lakh unit per annum (100,000 units per year) and colour printing machines are estimated to be around 8,000 units. We are looking for 25% market share in this segment over the period of next two years,” he explained.