Nikon India aims to achieve turnover of Rs 1,100 crore

Affordable smartphones have impacted the low-end compact camera sales in India

Smartphones that have almost spelt doom for the low-end compact camera market in India have been on the other hand pushing up the sales of the high-end compact, digital single lens reflex(D-SLR) cameras, according to Nikon.

"Smartphones impacted the low-end compact camera sales in India. At the same time they are also pushing up the sales of D-SLRs because the users look for quality which is determined by many other things including the type of lenses, sensors etc." Nikon India Private Limited Managing Director Kazuo Ninomiya said on Thrusday.

Ninomiya said that the recently launched D 3400 model, which is priced around Rs 30,000 is targeted at smartphone users who would like to experience better image quality with entry level D-SLR. 

Nikon India, a subsidiary of Nikon Corporation of Japan, enjoys the leadership position with a 55% share in the Indian camera market where about 5 lakh cameras are sold annually.

The impact on low-end compact camera sales has not made much of a difference for Niko as this segment was just around 10% its overall business in India, Ninomiya claimed.

He said the company was poised to achieve Rs 1,100 crore revenues in the current financial year with a 10% growth over the previous year. It hopes to continue double digit growth in the next financial year as well. Responding to a question, Niko India MD said there was no proposal to assemble the cameras in India as their products, which are currently being imported from Thailand and Japan and attract no import duty.

The company on Thursday launched a new Nikon Experience Zone in the Hyderabad to make available the entire range of Nikon products for the customers at a single place. The company has been establishing such experience stores all over the country and plans to set up such stores in tier-2 cities also.