Nikon aiming at No 1 position in India
Having established itself as a market leader in the digital single-lens reflex (DSLR) camera space, Japanese digital imaging major Nikon expects to be the number 1 player in the country over the next two years.
Mumbai: Having established itself as a market leader in the digital single-lens reflex (DSLR) camera space, Japanese digital imaging major Nikon expects to be the number 1 player in the country over the next two years.
"For DSLR, we are already market leaders. For the compact category, this year we plan to get 30 percent market share.
So, we can be near the No 1 target. If not this year, then next year, we will be the numero uno brand here. Next year, our market share will be over 30 per cent," Nikon India managing director Hiroshi Takashina said.
Nikon India enjoys a 25 percent market share in compact camera market, which is currently around 32 lakh units, up from 24 lakh units in FY11.
"We expect the compact camera market to touch 40 lakh units by this fiscal," he said.
Nikon plans to maintain its current 55 percent share in the DSLR space (which is expected to grow at 40-50 percent year-on-year over the next five years) with the new launches, Takashina said.
At present, the company sells 18 models of compact camera in the country, and 10 models in the DSLR segment. "We plan to increase the number of DSLR and Coolpix outlets from 93 to 110," he said.
"Currently, India business contributes nearly 1.5 percent of Nikon's global sales. But we think it is small considering the demand potential. We expect to make this to 5 percent in the next three years."
The Japanese company is eyeing a growth of 60 percent in sales at Rs 1,200 crore this fiscal, compared to Rs 750 crore in the previous year.