Google News

Nikon India eyes slot in parent's top 5 global units this fiscal

Must Read

Nikon India is eyeing a place in Japanese parent Nikon’s top five units globally this fiscal as it continues to strengthen its position in the country.
“We are looking at becoming top 5 markets globally this year and I have also set an ambitious target of being in top 3 markets in five years time …”, Managing Director, Nikon India, Kazuo Ninomiya told PTI.
“We expect to report Rs 1,200 crore sales turnover in the current fiscal year,” Ninomiya told PTI. The company had reported sales of Rs 1,150 crore in the previous fiscal year.
At present, the US, Japan, Germany, China and the UK are the top five markets for Nikon.
Nikon India contributes 3-4 per cent to global sales of Nikon.
Ninomiya said the company has 55 per cent market share in DSLR segment and 50 per cent market share in compact cameras.
When asked if the company may exit compact camera segment in future, Ninomiya told PTI: “While 80 per cent of our sales come from DSLR segment, we will continue to offer compact camera choices to our customers. We will not exit this segment”.
Its compact cameras are priced in the range of Rs 5,000 to Rs 32,950 while DSLRs are priced in the range of Rs 30,000 to Rs 4.5 lakh.
When asked if the company, which imports its entire product range, is looking at setting up a manufacturing unit in India, he was quoted by PTI as saying: “In the short term we don’t plan to set up manufacturing facility, but we are ready to consider in future”.
In order to increase its consumer connect, Nikon India is also looking at opening 20 Nikon Experience Zones — which showcase Nikon’s product range– this year across the country.
“At present, we have 120 Nikon Experience Zones. By the end of this fiscal, it will go up to 140. We also plan to organise 800 photography workshops this year,” Ninomiya told PTI.

Latest News

Palette Brands raises close to $2 million in pre-series A funding round

The funds will be allocated to launching its new cookware brand Ember, research and development and expanding the team Bengaluru: Consumer...