New Delhi: Electronics giant Epson India on Thursday appointed Samba Moorthy as its new President — the first Indian to hold the post for the Japan-headquartered company in the country.

Moorthy replaces Toshiyuki Kasai, who is retiring as India President after six years at the helm.

“It is an honour to lead Epson India. I’ve been here for over 20 years and the most important thing is the structural progress that we are making — from a single product to multiple offerings. I’m sure the team would continue to excel in the performance,” Moorthy told IANS.

“We look to sustain and boost our growth momentum in the coming years. My focus will continue to be on generating value for our customers in everything we do while building Epson into a respected brand in India,” he added.

According to Kasai, Epson India has been growing exponentially and reached a turnover of nearly Rs 1,664 crore in the financial year 2017.

“Epson India is now poised for the leap to the next level. Samba is an inspiring leader with a clear vision and is the ideal person to lead and take Epson India forward, with an eye on the 2025 goals set by the company,” Kasai said.

Moorthy, who was until now Vice President, Sales and Marketing at the company, joined Epson India in 1996 and grew through the ranks to head the company in the country.

According to International Data Corporation (IDC), Epson secured the top spot in the Inkjet printer market (by volume and value) for the calendar year 2017 in India.

The company captured 42 per cent of the Inkjet market by volume and 54 per cent in value, while HP followed with a volume market share of 40 per cent and value share of 32 per cent.

Epson sold 705,656 inkjet printers in the calender year 2017 to lead the market.