Nikon Eyes Digital Push to Revenues

Founded in 1917, the Toyo headquartered Japanese camera maker entered Indian market only in 2007.

Published: 22nd April 2016 03:07 AM  |   Last Updated: 22nd April 2016 03:07 AM   |  A+A-

BENGALURU: Nikon India is betting big on growing digital single-lens reflex (D-SLR) cameras to overcome the slowdown in demand for compact models and hopes to woo back  consumers using phones to click pictures to experience real camera.

Founded in 1917, the Toyo headquartered Japanese camera maker entered Indian market only in 2007. From sales of Rs 70 crore in 2007, the company has reported sales revenue of Rs 1,100 crore in 2016. “We are still in an investment mode,” Kazuo Ninomiya, Managing Director, Nikon India told Express. Its market share in India for D-SLR is 55% but in the compact segment it is about 45% .

The company is aggressively pushing to increase its market share over its rival Canon. “Indian camera market will grow at a compounded annual growth rate (CAGR) of 27% for next five years,” according to “India Camera Market Forecast & Opportunities, 2017” a report by Research and Markets.

nikol.jpgSome of the drivers for growing camera market in India are low penetration, increasing disposable income, increasing social media, increasing tourism, and increasing advertising, says the report.

Nikon is aggressively using digital marketing strategy to capture market share. It uses Facebook, Twitter, Pinterest among other channels to reach out to consumers and youth. “…the digital marketing is the cheapest so far,” says Sajjan Kumar, Senior Vice-President, Corporate Sales & Strategy.

As consumers today are becoming aware of the joys of shooting pictures, they are taking to the D-SLR. This interest in the D-SLR (digital single lens reflex cameras) is said to have been kindled by the pervasive use of the camera phone. Nikon will soon launch the D500, which is aimed more at the youth consumer and it can sync with ones smart devices. Nikon has D-SLR cameras priced Rs  28,000 to Rs 4.45 lakh in India. The latest top-end Nikoncamera, D5, is priced at Rs 4,45,950.

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