Nikon India to contribute 5% of global sales, appoints first Indian Managing Director

Japanese imaging product major Nikon expects India to contribute around 5 per cent of its global sales in next two financial years mainly on the back of growing sales of DSLR cameras, according to a top company official.

Nikon India, the company's wholly-owned arm which today announced top management changes with the appointment of Sajjan Kumar as its new Managing Director, is targeting a turnover of Rs 1,200 crore in the current fiscal.

Kumar is the first Indian to lead Nikon's operations here. He takes over from Kazuo Ninomiya, who is moving back to Japan for a new role in Nikon Corporation after completing his three years tenure.

"India is an emerging market for Nikon and has good potential. We almost contribute 3 per cent to Nikon (sales) globally. We are aiming, at least in next two fiscals, to contribute close to 5 per cent," Nikon India Managing Director Sajjan Kumar told PTI.

For the financial year 2017-18, Nikon India reported a turnover of Rs 1,150 crore, posting a growth of 5 per cent.

"The revenue of the company grew by 5 per cent last year, closing at Rs 1,150 crore. This fiscal, the company is aiming at closing on Rs 1,200 crore," Kumar added.

Besides, Nikon India which presently has around 45 per cent market share in the domestic market in D-SLR (Digital single-lens reflex) and compact cameras, expects to retain its position, he added.

Last year, the Indian DSLR market stood at around 5 lakh units and this year, it is expected to be around 5.25 lakh units by registering 5 per cent growth.

While, compact cameras are expected to be around 2.5 lakh units.

Nikon India is also now enhancing its retail presence in non-metro places by opening more Nikon Experience Zones, which are in shop-in-shop format.

"Right now we have 140 Nikon Experience Zones ... We would be adding 10 more experience zones this financial year," he said adding, "we are not capping it to metros only but taking to upcountry towns."