Nikon bets on Indian market; launches 8 new cameras
09 Apr 2009
Photography equipment major Nikon India Ltd, an arm of the Japanese manufacturer, sees India as a major growth market. The company on Wednesday launched its 'Coolpix S-Series' cameras in New Delhi.
The new range of eight compact COOLPIX cameras, including four Style Series cameras, three Life Series cameras, and one Performance Series camera, is priced between Rs7,450 and Rs25,950.
The company is also looking to expand its sales network, and plans to hire around 200 people in the process. "Our expansion plans include increasing our sales force. So, this year we would be hiring around 200 demonstrators," Nikon India managing director Hidehiko Tanaka said.
Nikon also plans to expand retail presence. "We are planning to make our products available to around 800 shop-in-shop stores this year. Currently, we are present in 100 stores. So our focus this year in India would be expanding our base," Tanaka added.
The company said it aims to achieve a 10 per cent and 40 per cent share in the estimated one million-unit Indian compact camera market and the 13,000-unit SLR camera market respectively. It is targeting major cities like Mumbai, Kolkata and Bangalore for expansion.
However, in view of the recession, the company expects only 30 per cent growth in revenues this fiscal, as against 50 per cent in 2008-09.
Tanaka said the Indian digital camera market accounts for less than 1 per cent of the global market; and the company did not plan to start production in India until there was enough demand.