Digital imaging and printing solutions provider Epson India expects to close this fiscal at a turnover of Rs. 1,300 Crores. Epson India had a turnover of Rs. 1078 Crores in FY 2014-15.
It further claims that it has now sold more than one million of its hugely successful InkTank printers in India. This has catapulted Epson into the No. 1 spot* for Inkjet printers in India.
As per Cyber Media Research (CMR) the Inkjet printer market in India has been growing rapidly at 8% per annum for the last 3 years and is expected to touch 14.8 Lakh units this financial year (FY2015-16). This is largely on the back of massive demand for Epson’s InkTank printers. Epson sold 422,000 Inkjet printers in 2014-15 and had a value marketshare of 51% as per CMR.
Epson launched its InkTank Inkjet printers in India in 2011. Prior to this Epson says its focus was on creating excellent products that they believed consumers would accept and appreciate, without truly understanding what consumers really wanted. A few years ago, they say they realised that this approach needed to be modified.
Understanding what the consumer requires is now the starting point for any new product development. Epson says they changed their approach to offer products that are focused on meeting stated or unstated consumer needs. This was also the approach used to design InkTank printers for India and other emerging markets.
Speaking about Epson’s success with InkTank printers in India and on its future plans Siva Kumar K, Deputy GM (IJP, Sales & Marketing), Epson India, said, “Epson, with its unique and highly reliable Micro Piezo technology, was the pioneers and the first to launch InkTank printers in India. We have a built a huge amount of trust and faith in this product and the very fact that we have sold over 1 Million InkTank printers in India is a testimony to that fact.”