Canon appoints Fortune as its ND

DQW Bureau
New Update


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.



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="">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


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="">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.