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Ricoh India targets Rs 1,000 crores revenue for 2013 with “three point program”

June 13, 2012

Company launches three laser printers targeting SOHOs and SMEs as part of its three point program to reach new revenue target. 

Ricoh India Ltd announced its entry into the affordable printer market with three new printer models – a single-function laser printer priced at Rs 6,500 ($117/€93), the SP 100SU MFP priced at Rs 9,900 ($178/€142) and an A4 MFP priced at Rs 12,800 ($230/€183), reports Express Computer.

After a successful financial year in which the company “overachieved its revenue target and churned about Rs 300 crores ($54 million/€43 million)”, Tetsuya Takano, Managing Director and Chief Executive Officer at Ricoh India Ltd. announced that the company “are targeting Rs 1,000 crores of revenues in FY13”.

The company is attempting to achieve this target by adopting a “three point program” consisting of strengthening the company’s product line, expanding its sales and service support to meet the needs of its Indian partners and establishing a subsidiary company, which was achieved in February with the opening of US-based innovation company Ricoh Innovation Pvt. Ltd. in Bangalore.

The success of FY12 has meant that, as well as entering the MFP market, Ricoh are planning to foray into unified communications such as video-conferencing facilities and projectors, and production printing.

In addition, Ricoh has recently entered into the IT services market, offering Managed Document Solutions (MDA), with the company hoping to gain a substantial market share by implementing a host of marketing campaigns. “We are increasing and enhancing our business for our customers and strengthening our management for the same worldwide”, Takano commented.

Ricoh is attempting to improve its position in the low-end, entry-level printer market after falling behind competition such as Canon and HP, with V Balakrishnan, Chief Marketing Officer at Ricoh India explaining that the Indian market was increasingly looking to MFPs: “Though the volumes continue to come from SFPs, MFPs are the devices that bring percentage increase in business”.

To help strengthen its position in the market, Ricoh is encouraging partnerships with distributors and resellers, with the company currently boasting “about 500 dealers” and planning to add “about 500 more partners” in the country.

Balakrishnan also detailed how Ricoh is aiming to reduce the total cost of ownership of printers through its Genuine Refill Program, commenting: “Our market research revealed that customers were using non standard consumables to achieve a lower cost of ownership. This was adversely impacting the performance of printers. With the introduction of our Genuine Refill Programs, Indian customers are assured of consistent printer performance and a low cost of ownership.”

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