The Hindu BusinessLine: March, 2014
New Delhi: Japanese camera maker Nikon on Wednesday said it will invest Rs. 120 crore in India in the next fiscal on branding and marketing, similar to what it is spending in the current year.
With a market share of 55 per cent in India, the company expects to continue with the number one position with a growth of 20-30 per cent every year, with majority of the shares coming from the digital single lens reflex (DSLR) cameras, a top company official told Business Line.
“The total size of the DSLR market is expected to go up to 3.6 lakh units in the next financial year from three lakh units this year and around 2.4 lakh units in 2012-13, and our aim is to get the maximum share,” said Hiroshi Takashina, Managing Director, Nikon India.
In the compact digital cameras also, he said, the company has around 33 per cent market share and it targets to achieve 38 per cent in the next financial year.
Nikon India has 14 models in the DSLR segment and 27 in the compact digital cameras, all imported from its factories in China, Japan and Thailand, he added.
Apart from investment in branding and marketing for its products, Takashina said the company will also expand its reach to 4,000 multi-brand stores in the next one year, from around 3,500 shops now.
“We have 31 local distributors with local partners in each State and we are planning to enter 30 more cities, especially in tier-II and tier-III in the next fiscal in places like Bareilly, Agra and Agartala,” he said.
Looking at such expansions and with upcoming products, the company expects a turnover of Rs. 1,100 crore in the next fiscal, up from around Rs. 1,050 crore this year, Takashina added.
Meanwhile, Nikon launched three new models of D3300 priced in the range of Rs. 32,450 to Rs. 46,950. It has also launched its flagship model D4S, to be available from end of this month at Rs. 4,19,950.