The Hindu Business Line reports that
Canon India has plans to move up the value chain by focusing on high-end cameras and the digital SLR category due to flat growth rates in the Rs 2,000-crore compact camera segment.
Apart from poor consumer sentiment, the onslaught of smart phones (with in-built cameras) has been the primary reason for compact cameras facing stagnant sales. Canon’s strategy is now to go beyond the entry-level cameras and woo buyers with better picture technology through its high-end and professional cameras priced Rs 10,000 to Rs 25,000, going up Rs 4 lakh.
Alok Bharadwaj, Senior VP, Canon India said, “There is going to be a shift in our strategy. Today, nearly 30 per cent of our sales come from the entry-level segment, but going forward the contribution will go down to 10 per cent. There will be a shift in focus towards high-end cameras and the new brand ambassador Anushka Sharma will help in creating awareness about the quality of the pictures versus that on smart phones.” [...]
There is more to read. This is Canon India, don’t know if what was said applies globally to Canon.