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Imaging major Nikon India is targeting a turnover of Rs 1,200 crore this year. Nikon India's Managing Director, Mr Hiroshi Takashina, told Business Line that he was upbeat about the company's growth in India.
“We have managed a year-on-year growth of 40-50 per cent. Our turnover increased from Rs 200 crore in 2009-10 to Rs 450 crore the following year, before reaching the Rs 750-crore mark in October 2011. Our turnover target this year is Rs 1,200 crore,” he said.
Since its entry into India five years ago, Nikon has made significant progress, increasing market share from less than 5 per cent at inception to 27 per cent currently. It is aiming to further enhance it by 3 per cent to 30 during the current year.
The compact digital camera market has grown 33 per cent in the 2012 fiscal to 3.2 million units from 2.4 million units the previous year.
The company has recently launched the DLSR range – D4 and D800 – and established a new product category in the camera space, Nikon 1, he said.
“At the current levels, Nikon India's contribution to the global revenue is less than 1.5 per cent. We plan to increase this number to 5 per cent in five years through various activities. As a brand, Nikon uses multiple mediums such as TV, print, outdoor points of sale, and digital media to publicise its campaigns. It has increased its marketing budget for 2012-13 to Rs 150 crore and targets new customers with brand ambassador and Bollywood star Priyanka Chopra. It plans to strengthen dealer network from 3,000 at present to 3,500 by the close of this fiscal and eyes Tier II and III cities and towns for expansion,' the Nikon India MD said. The company is also planning to add five new service centres this fiscal and take the service centre network to 28.
“The market in India is driven both by price and quality. Close to 75 per cent of the total demand is for the compact digital camera in the sub Rs 10,000 range,” he said in reply to a query
While driving growth, Nikon India is neither looking at exclusive showroom network nor a manufacturing facility here.
“We are importing cameras from outside. The weakening rupee is telling, particularly in recent months as we are a 100 per cent import dependent company. If the Government does not intervene and arrest the fall, we will be forced to revise the price upwards,” Mr Takashina said.
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