Mumbai, Jan 26 (PTI) Japanese printing solutions major Konica Minolta, which controls half the domestic market, has set a target of doubling its top-line at Rs 1,000 crore by 2022 as its domestic unit is clipping in double digits. Also Read - Konica Minolta seeks to boost its digital printing business in India

Konica Minolta Business Solutions India had closed FY17 with Rs 500 crore revenue and is growing in double digits this year.

The company expects to continue to grow at the same level going forward on the back of a slew of new product launches this year.

“We have achieved the first milestone of earning Rs 500 crore sales last year and hope to achieve the next milestone of clocking Rs 1,000 crore revenue by 2022,” Kuldeep Malhotra, vice-president for sales at Konica Minolta Business Solutions India told PTI.

The company entered the country in 2010 and it operates through two divisions — Production Printers and Office MFP segments. It enjoys over 50 per cent market share in production printers and more than 20 per cent in office MFP segment, he added.

“Our long-term vision is to double revenue in the next five years,” he said.

In 2017, the company added a range of new products both in the production printing, office MFP segment and the enterprise segment.

Konica Minolta Business Solutions is a global leader in advanced imaging and networking technologies which include multi-functional peripherals (MFPs), printers, equipment for production printing systems and graphic arts, equipment for healthcare systems, measuring instruments for industrial and healthcare applications, inkjet printers and textile printers.

This is published unedited from the PTI feed.