Ricoh India Increases Prices Due To Rupee Depreciation

Ricoh India Limited, a player in the area of Printing and Document Management Solutions, announced around 5 percent increase in the prices of their office products, with effect from 1st June 2012.

“In spite of the huge depreciation of Indian Rupees vis-à-vis USD, we have been trying to hold on to our pricing to our customers till now, hoping that the situation would improve soon”, Tetsuya Takano, MD and CEO, Ricoh India, said. ”However, we are now constrained to increase the prices of our office products by up to 5 percent, so as to at least partially cover the impact.”

“India is a high growth market for Ricoh and we have ambitious plans here”, Takano said. “From around Rs 300 crores in FY 11, we plan to expand to Rs 1,000 crores by FY’13, which is more than three times growth in three years. During the financial year ended as on 31 March 2012, we have already touched revenue of Rs 432 crores, which is more than 45 percent 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.”

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.