Nikon India expects to close this financial year with ₹900-crore revenue, a 17 per cent increase over the previous year and beat the pre-Covid revenue of ₹820 crore. “We will cross ₹1,000 crore in 2023-24,” said Sajjan Kumar, Managing Director of Nikon India Pvt Ltd.

Kumar told BusinessLine thatNikon India closed the last financial year with revenue of ₹765 crore, a 50 per cent growth over the previous Covid-hit year.

With weddings, sports activities and corporate events increasing, the market looks promising. In the last two Covid-hit years, apart from professionals, a new category of content creators, YouTubers and vloggers has emerged. They start from a smart device but to differentiate their content, they migrate to a proper camera. Two months ago, the company introduced Nikon Z30 targeted mainly at this category, he said.

The company has in the market nine mirrorless cameras; four DSLRs and two compact cameras at a price range of ₹10,000-4.77 lakh, he added.

The products are imported mainly from Bangkok. Some of the high-end lenses are in shortages due to high demand. However, this is being sorted out, he said. “We are trying to recover,” he added.

There is no plan for a manufacturing plant in India now as the overall market is low at around 3 lakh units worth around ₹3,000 crore, he said. Globally, for Nikon, the India unit contributes around 4 per cent of revenue as against 1.5 per cent four years ago, he said.

The festival season starts from Onam in the South and is followed by Durga Puja and Diwali.

When asked if high-end smart phones affect sale of cameras, Kumar replied in negative. The smart devices are making everyone a potential customer and this is a large pool. Out of this, whoever takes it seriously as a hobby and turns professional will look at camera as the sensor size is different and lens options are many. “I don’t see it as competition but more as a complement which helps expand the camera market,” he added.

Kumar was in Chennai for the Annual Regional Partners Meet 2022. Over 100 dealer representatives from Tamil Nadu, Telangana, Andhra Pradesh, Kerala and Karnataka attended the event. “We launched a regional campaign called Yeh Diwali Nikon Wali" providing customers with offers and discounts ahead of the Diwali celebrations,” Kumar said.

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