Canon appoints Fortune as its ND

Security market in India currently
stands at $530 million, out of which the marketshare for
communication and surveillance cameras is a healthy 55 percent,
valued at $292 million. In the next one year it is likely to grow at
a rate of 40 percent. This entails great business opportunities for
dealers across the country.

href="https://www.dqweek.com/canon-conducts-channel-dialogue-in-haryana">Canon
being aware of this trend in the
security and surveillance market signed a deal with Delhi-based
Fortune Marketing led by Akhilesh Gupta. The deal between the two was
struck in April, 2010. “Fortune Marketing is an veteran in the
market and we decide to sell our range of surveillance cameras to
them. They will take care of the customers and the application part.
We will only provide the hardware to them,” said Alok Bhardwaj,
Senior VP, Canon India.

The Japan-based company with the help
of href="https://www.dqweek.com/fortune-marketing-in-dq-top-20">Fortune
Marketing is also planning to increase its style="background: transparent none repeat scroll 0% 0%; -moz-background-clip: border; -moz-background-origin: padding; -moz-background-inline-policy: continuous;">partner
size from 20 to 100 style="background: transparent none repeat scroll 0% 0%; -moz-background-clip: border; -moz-background-origin: padding; -moz-background-inline-policy: continuous;">by
the
end of 2010. They would be the ones who would provide security
solutions to the end-user. It is also the first time, Fortune has
tied up with Canon for the distribution of any of its products.
“Canon is a big name in the market. They have limited products but
all of them come with the highest quality. Since security and
surveillance is the next big thing in Indian market, it is the right
time for us to take technical expertise of Canon in selling their
products. From roads, malls, stadiums, offices to hotels everyone
wants to be secured under CCTV cameras. And Canon's vision would
help us immensely in achieving our goals in this market,” said
Akhilesh Gupta.

Since these security cameras are
expensive and come at an average price of Rs 50,000, the target
segment for this product would be href="https://www.dqweek.com/lenovo-rolls-out-smb-strategy-in-india-3">SMBs
and large enterprises. “A
lot of development work is going on. We along with Fortune will focus
on both SMBs as well as big enterprises for selling the cameras. The
home segment does not require equipment as expensive as this,”
revealed Puneet Sabharwal, Assistant Director-System Integration
Division, Canon India. It was only on January 1, Canon's SI
division was formed.