Nikon India aims for Rs 1,200 crore revenue in 2017-18

New Delhi: Smartphones with manual shooting modes, better sensors and more megapixels have already spelt doom for compact digital cameras (CDCs). Will smartphones replace digital single-reflex (DSLR) cameras too?

No, says Nikon which is aiming to create a new sales record in India for the financial year 2017-18.

The Japan-based camera giant witnessed a sales revenue of Rs 1,150 crore in the financial year 16-17 -- the highest in the past 10 years.

"Our aim is to create a new sales record this year -- an increase of 5-10 per cent -- to hit Rs 1,200 crore. Sales revenue from DSLR cameras is fast increasing. In fact, it covers up the shrinking sales numbers of CDCs," Kazuo Ninomiya, Managing Director of Nikon India, told IANS.

Nikon India, a 100 percent subsidiary of Nikon Corporation, currently has 55 per cent of the DSLR market share in the country. The company also has a strong foothold over 50 percent of the digital camera market in India.

When asked whether the company has any plans to set up a manufacturing base for its DSLR cameras in the country, Ninomiya said: "There are no such plans as of now".

He also ruled out Nikon`s entry into smartphone camera or lens manufacturing.

Nikon will soon be making a new addition to its series of high-end, full-frame cameras. The company announced the development of a new model -- `Nikon D850` -- which will be a successor to the 36.3MP, full-frame D810 camera which was praised for offering extremely sharp and clear rendering and rich tone characteristics.

The D850 will be a formidable tool for creators who will not compromise on exceptional image quality and versatility, including aspiring and professional photographers as well as hobbyists.

The digital imaging company also acknowledged the role of tier II and III cities in driving sales.

Until last year, Nikon India had 120 stores called `Nikon Experience Zones` across the country. This year, the company is planning to open 20 more `Experience Zones` in smaller towns as DSLR users are growing in these areas as well.

"Some of the `experience stores` have been opened recently in places like Sagar and Ajmer to empower our ever-growing markets," Sajjan Kumar, Senior Vice President, Corporate Sales and Strategy, told IANS.

Kumar said that Nikon stores are being set up to ensure a healthy distribution network across the country to maintain a prompt, after sales service.

With offices in Mumbai, Kolkata, Bengaluru, Delhi and Gurugram, Nikon is strengthening its sales and services network across the country. Nikon has also set up over 120 `COOLPIX` and `D-SLR` zones pan-India.