MUMBAI: Digital imaging firm Epson on Monday said it expects to double its revenues in the next three years to about Rs 1,400 crore on the back of growth in categories like printers and projectors.
The company's revenues in 2012-13 stood at Rs 703 crore. "We see strong growth for our products. We expect to grow by 25 per cent this year. In the next three years, we hope to double our revenues to about Rs 1,400 crore," Epson India Deputy General Manager (CPG)S M Ramprasad told PTI.
Epson expects this growth to come from inkjet printers, projectors and large format printers, he added.
The company today launched a new series of mono-ink tank inkjet printers called 'Series M'. The single function unit will be available for Rs 9,999, while the multi-function unit is priced at Rs 13,999.
"We already have an L-series of colour ink tank system printers and now we are launching mono-colour printers. We are confident that the new range will add to our market share, which stands at 33.8 per cent (value share of the inkjet market)," Epson India Director Sales and Marketing N Sambamoorthy said.
While small and medium sized businesses are expected to be early adopters of these products, Epson India expects good business to come from large enterprises too, he added.
The company claims that the M-series will bring down printing costs to 12 paise per page, lower than original or third-party re-filled toners.
According to estimates, inkjet printers comprise 39.3 per cent of the market (1.20 million units), while laser printers have a dominant share of 50.9 per cent (1.56 million units). Dot matrix printers have a 9.8 per cent share with 0.3 million units.
In terms of units, Epson India has a 19.7 per cent share of the inkjet printer market in India.