The Hindu Business Line : Casio India eyes bigger share in digital cameras

Casio launched a series of digital cameras in Hyderabad on Monday. A woman displaying 6 mega pixels Exlim Pro-Ex-P600 digital camera at the launch, costing Rs. 39,995. - A. Roy Chowdhury

Hyderabad , May 17

PINNING hopes on the substantial growth being recorded in the Indian digital cameras market, Casio India Company Pvt Ltd has set a target of achieving an overall growth of 20 per cent in business volumes.

Casio India is a wholly owned Indian subsidiary of the $6-billion Japanese consumer electronics giant, Casio Computer Company.

Casio India, which is the second largest player in the Indian digital cameras market in value terms, has also set a target of achieving at least 25 per cent share in the domestic market, according to the Casio India Head (Marketing and Sales), Mr Kulbhushan Seth.

Addressing a press conference here on Monday on the eve of launching new range of digital cameras, Mr Seth said the Indian digital cameras market reached a size of Rs 120 crore last year, recording a growth of more than 80 per cent over the previous year. Expecting the market size to double this year, Casio India plans to increase its share in the country to 25 per cent by the year-end from the current level of around 17 per cent.

Stating that the digital cameras currently contribute around 15 per cent to the company's turnover, Mr Seth said Casio India expects to increase the contribution of digital cameras to 25 per cent of the total turnover by next year. The current turnover stands at Rs 45 crore.

The product portfolio of Casio India currently includes digital cameras, wrist watches, clocks, wide range of calculators, hand-held, desk top, scientific and graphic, digital diaries, pocket viewers and electronic musical instruments.

According to Mr Seth, the company has also drawn up plans to increase the market share of its wrist watches segment to 5 per cent in the next couple of years from the current level of below 1 per cent.

"Our aim is to provide the latest technology products at affordable prices. We simultaneously launch the products in India as soon as they are launched worldwide. For the digital cameras, we are planning a communication strategy that includes the electronic media. Our media spend is expected to be Rs 1 crore for the financial year," Mr Seth said.

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