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© otnaydur-dreamstime.com Electronics Production | January 27, 2014

OKI enters the Indian ATM market

OKI has signed an agreement for delivery of cash-recycling ATMs, ATM-Recycler G7, to State Bank of India (hereinafter referred to as SBI).
The SBI Group currently operates approximately 39,000 units of ATMs and CDs (cash dispensers).

“Under the Mid-term Business Plan 2016 announced on November 12, 2013, one of most important management strategies is to develop new overseas markets for OKI’s ATMs,” says Shinya Kamagami, Senior Vice President and General Manager of OKI's Systems Hardware Business Division. “The delivery of ATM-Recycler G7 to SBI is a solid step in line with this strategy. It follows installations in Russia and Indonesia, in addition to Japan and China where OKI already has strong track records. Moreover, in May 2013, OKI announced an expansion into the Brazilian ATM market. Moving forward, OKI plans to further expand its ATM business which will enforce OKI’s future growth.”

The number of ATMs and CDs operating in India reached 140,000 units in 2013, making it the third largest market in Asia, following China and Japan. Building on the delivery to SBI and leveraging cash-recycling ATMs that contribute to banknote and operation management, OKI aims for 25% share in unit shipments of the Indian ATM market.

Capitalizing on the achievement made in the Indian market, OKI plans to accelerate global sales development of its ATMs and aims for 40% market share in the global cash-recycling ATM market, namely in emerging markets, where economic growth is expected to continue.

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October 15 2018 11:56 pm V11.6.0-2