Ricoh increases Prices due to Rupee Depreciation

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

Ricoh increases Prices due to Rupee Depreciation 
Ricoh has announced around 5% increase in the prices of their office products, with effect from 1st June, 2012. Additionally, the company had recently announced aggressive expansion plans through IT Dealer / Reseller channel, with the launch new models of Printers at the entry level. The newly launched SP 100 series targeted at SME consumers has been kept out of the current price hike.  
"In spite of the huge depreciation of Indian Rupees vis-a-vis USD, we have been trying to hold on to our pricing to our customers till now, hoping that the situation would improve soon. However, we are now constrained to increase the prices of our office products by up to 5%, so as to at least partially cover the impact," said Tetsuya Takano, MD & CEO, Ricoh India.
"India is a high-growth market for Ricoh and we have ambitious plans here. From around Rs.300 crore in FY'11, we plan to expand to Rs.1,000 crore by FY'13, which is more than three times growth in three years. During the financial year ended as on 31st March, 2012, we have already touched revenue of Rs.432 crore, which is more than 45% over the previous year. We will continue to bring the best of technology at affordable price points to our customers, to rapidly expand across our business segments," Takano further added.


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