Japanese camera major Nikon expects India’s contribution to global revenues to grow in the next three years as it eyes growth in smaller towns and cities, even as smartphones and tablets are flooding the market.
Hiroshi Takashina, Managing Director, Nikon India, said: “We expect India’s growth to increase to five per cent to global revenues in the next three years, from the current two per cent.”
He said digital cameras had low penetration in Indian households and expected the compact digital cameras market to grow despite flat growth last year due to tough economic conditions. “I think India still has a low number of compact cameras. Last year, compact camera sales were just about 27 lakh units. ..This is much less than the total number of passenger cars. I don’t think there is any country which will have more number of passenger cars than cameras,” said Takashina. He expected the industry to grow to about 30 lakh digital compact cameras this fiscal.
The company has launched 17 new models under its CoolPix range of cameras priced between Rs 4,990 and Rs 54,950. He said the company was also expanding its Nikon School to other metros from the current five cities.