Konica Minolta sets Rs 1000 crore target

January 22, 2018

The OEM’s Indian subsidiary has set itself a revenue target of Rs 1000 crore by 2022.

As The Economic Times reports, Kuldeep Malhotra, Vice President of Konica Minolta Business Solutions, has revealed that the company is aiming to reach a revenue milestone of Rs 1000 crore by 2022.

The company’s Indian branch was established in 2010 and hit the Rs 500 crore in 2016. Now, as it “plans to beef up its professional production”, a new goal has been set.

In an effort to counteract the “stagnancy” that has begun to affect the office market, Konica Minolta “wants to bank more on its professional production printing” and has “directed its efforts towards increasing its share in the total earnings of the company to the current 60 percent” over the last three years.

During that time, the company also expanded its presence in India to a total of 24 branches, and Malhotra revealed that Konica Minolta is keen to invest in capacity expansion “based on market requirements”.

It has also been focusing on further diversification, adding the provision of IT solutions to its roster of services.