Camera maker, Fujifilm, said on Thursday that it is aiming to double its revenue to Rs 1,000 crore in India on the back of new products and penetration in smaller cities.
The company, which launched its digital cameras in India four years ago and is still a miniscule player, plans to tap various media aggressively and has roped in Bollywood actress, Ms Minissha Lamba, as its brand ambassador.
“With the help of new product range and our focus on Tier II and III cities, we are expecting to cross a revenue of Rs 1,000 crore in the next three years,” Fujifilm India Managing Director, Mr Kenichi Tanaka, told PTI.
The company is hoping to close the 2011—12 financial year with a turnover of Rs 500 crore, he added.
Tanaka said the company enjoys 7.1 per cent share in the 27 lakh units Indian digital camera market.
“We are targeting 10 per cent share next fiscal when the market is likely to touch 30 lakh units. In the next three years, we aim to have 15 per cent share of the market, which is expected to be 40 lakh units,” he added.
The company today introduced a new digital camera with interchangeable lenses. The camera body —— X—Pro1 —— is priced at Rs 99,999 without the lenses.
Besides this model, Fujifilm is also planning to launch new products like X—S1, JZ100 and T350 in India in this year.
On the company’s operations in India, Tanaka accepted that it is trailing many existing players.
“In India, we are lagging behind as we entered the camera market very late. Although we were present earlier with our film rolls, but we could not build the brand awareness for the digital cameras,” he added.
The company spent Rs 40 crore during the current fiscal on marketing and promotional activities, and plans to tap the audio, visual, outdoor and social media in a big way for its products in the future, he said.
Going forward, the company will target the smaller cities more with its entry level products that start at Rs 4,999, Tanaka said.
“Currently we have 70 exclusive distributors and are selling our products through 3,000 retail stores across the country. Now, we can cater to every corner of the country and are poised to grow from here,” he added.
When asked if the $ 27 billion Japanese entity will consider setting up an assembly unit in India, Tanaka replied in negative.
The company currently sources its products from two facilities in Japan and China.