Company press release, January 1, 2004
New Delhi
Xerox Modicorp, the undisputed leader in the document management market in the country, today announced its plans to expand its market leadership position in the copier market to 40% in 2004. As per IDC data, Xerox currently has a market share of 34% (unit terms) in the copier market and aims at maintaining its leadership position in this segment by making further inroads into the digital copier market by migrating existing analogue customers to entry level digital products and driving the adoption of colour in the office.
Xerox attributed its strong performance in the Indian copier market to its strategy of repositioning its product offering to target the growing demand for multi-functional devices in the Office and SOHO segment. As part of its new office strategy, Xerox had revamped its product portfolio in India in 2003, launching several new products and instituting aggressive value pricing and trade-in schemes that helped it grow its customer base across the country.
Detailing the rationale for Xeroxs office strategy, Gennady German, Marketing Director, Xerox Modicorp Ltd, said, Xerox has attained its leadership position in the Indian copier market by providing a complete range of document management products for the Office, be it stand-alone digital copiers, printers to top-of-the-line, networked multifunction systems in black-and-white and color. As prices come down and visibility for Document Management technologies increases, we expect there to be an increase in demand for multi functional - color devices and are confident that we will be able to make the most of this improving business environment to grow our market share to 40 % in 2004.
Xerox Modicorp Indias revenue from standalone copier and multi-function products currently contributes 75 % of the companys equipment revenues. Going forward, the company expects revenue contribution from equipment sales to grow fueled by its strategy of introducing document management products at price points that are more affordable to business users.
The copier market in India is expected to grow at a CAGR of 25% over the next two years (2005), driven mainly by the growth in the digital copier market as per IDC analyst, Ipsita Roy.
Xerox is focusing on this growing market with a strategy of providing copiers with flexible entry-level configurations to make it the obvious choice of customers who are keen to purchase customizable products that meet the unique requirements of their individual business
The organized copier market in India as per IDC estimates is 31692 units, worth approximately Rs 4100.0 million, with the digital copier market estimated to be 11000 units valued at Rs 2280 million. The Digital copier market in India has grown by 90% over the last few years and is expected to register robust growth of 65 to 70 % annually over the coming years. India is also expected to mirror the trend being witnessed in western markets overseas where there has been an explosion in demand for Multi Functional (MFDs) and Color Devices.
About Xerox in India
Xerox operates in India through its entity, Xerox Modicorp Ltd., and is the undisputed leader in the document management market in the country. Xerox in India offers an array of innovative document solutions, services and systems -- including color and black-and-white printers, digital presses, multifunction devices and digital copiers -- designed for offices and production-printing environments. It also offers associated supplies, software and support. . Our vision is to implement a multi-channel coverage model based on market potential separated by segment/industry that will allow Xerox to reach more customers at lower costs, with products that reflect market needs.
As a part of the Developing Market Operations of Xerox Corporation, USA, it is integrated to Xeroxs worldwide growth plans. India is bound with 122 other DMO countries by unique customer requirements, common product needs and marketing strategy. The company has received ISO 9002 certification, both for its manufacturing and customer service support operations, as well as ISO 14001 for complete Environment Management Systems and ranks No. 1 in customer satisfaction.
For details contact:
Gitanjali Puri
Xerox Modicorp
95124 2561930 Extn. 4562
gitanjali.puri@ind.xerox.com
Ruchi Sharma
Text 100
011 2336 3995-98
ruchis@text100.co.in
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