Nikon India to spend Rs 150 cr on marketing next fiscal

Digital imaging firm Nikon India today said it will increase its marketing budget in 2012-13 to Rs 150 crore as it chases 30% market share in the compact camera segment in the country by next fiscal.

Nikon India, which is a 100% subsidiary of Japan-headquartered Nikon Corporation, has 25% market share in compact camera segment and earmarked Rs 120 crore on advertising and marketing campaigns for the ongoing fiscal.

"In 2012-13, we expect the compact camera market to touch 40 lakh units in India. Of this, we are targeting a market share of 30%," Nikon India Managing Director Hiroshi Takashina told PTI.

At present the company sell 18 models of compact camera in India.

According to Takashina, the compact camera market in India currently stands at around 32 lakh units, up from 24 lakh units in 2010-11.

The company, which had signed Bollywood actress Priyanka Chopra as its brand ambassador last year, is also planning to raise its marketing budget in the next fiscal.

"We plan to increase the marketing budget in 2012-13 to Rs 150 crore from Rs 120 crore in the current fiscal," Takashina said.

Nikon, which also sells 10 models in the Digital-SLR segment, is looking to maintain leadership  position in the vertical in coming years.

The company today launched three new models in the DSLR range--Nikon D4 and Nikon D800 and Nikon D800E--priced at Rs 3,24,950, Rs 1,49,950 and Rs 1,64,950 respectively.

"We have 55% market share in DSLR segment and would like to maintain that in the coming years. These new launches will help us maintain the leadership position in the segment," Takashina said.

Keeping in view the growing population and people moving from compact to DSLR segment, the company expects the DSLR segment to grow 40-50% year on year over the next five years, he added.

Takashina said demand for DSLR camera in India has reached 1.7 lakh units this fiscal, as against one lakh in the previous year.

"In the next fiscal the DSLR market will expand to 2.5 lakh units," he said.