Fujifilm India, a wholly-owned subsidiary of the Japanese major, is targeting revenues of about ₹1,100 crore by the fiscal-end on the back of growth in its photo-imaging, medical equipment and wide-format printing businesses.
Said Yasunobu Nishiyama, Managing Director of Fujifilm India: “India is among the fastest growing markets for us globally. We recorded revenues of over ₹900 crore last fiscal and expect to grow more than 20 per cent this fiscal.”
Earlier this week, the company launched three new products, expanding its ‘Instax’ range of instant cameras. These offer analogue printing on credit card sized photos instantly.
The Instax Mini 70, Instax Mini Hello Kitty and Instax Share, a smartphone printer, are priced at ₹8,900- 14,500.
Nishiyama said the growth will be driven by the expansion of its key products, such as Instax cameras, advanced medical imaging and diagnostics equipment as well as the wide format inkjet printer business.
Online channel The Instax series is available in 300 stores across India. With nearly a third of its sales coming from the online channel, the company expects to further strengthen its presence through e-commerce portals.
Asked if Fujifilm would manufacture its products in India, Nishiyama said it will look at the possibility as sales volumes grow. The company is also exploring opportunities to develop value-for-money products tailored for Indian consumers, he said. Despite smartphones, increased awareness about high-end cameras and rising incomes are expected to boost the demand for cameras, he added.