Canon Forms New Business Group for the Middle East, Expanding Retail Stores in India

Canon Expo 2010

The Recycler reports that Canon Inc. is planning a new business division in Egypt and is also expanding its retail presence in India. The new business in Egypt will be called “Canon Central and North Africa (CCNA).” It will provide “on-ground support and will focus on developing the local technology market across all B2B and B2C product categories.” The firm is said to expect the print market in the Middle East “to grow by 7.5 percent” per year to reach $26.3 billion (€23.5 billion) by 2018, with Canon stating that the market is “looking good.”

Somesh Adukia, B2C Sales Director of CCNA, commented: “The formation of Canon Central and North Africa will energize our operations across Egypt as we roll out our strategy of growing our reach and engaging our customers. We welcome our partners to this new entity and hope to continue building a mutually beneficial partnership in the days ahead.”

Canon India is also said to be expanding the number of its retail stores, and is aiming for 400 retail stores by 2019. It’s also aiming for revenues of approximately Rs 3,200 crore ($477 million/€427 million) in the next three years. President and CEO of Canon India, Kazutada Kobayashi, commented: “we are growing 10 percent this year and hope to continue it for the next three years. We would be around Rs 3,200 crore ($477 million/€427 million) by 2019.” Kobayashi says that Canon inkjet printers will have a growth of 14 percent and office printers have a growth rated of 10 percent.

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