Imaging companies such as Canon and Olympus are lessening dependence on the compact camera segment by focusing on categories like laser printers and medical equipment.
While Canon India is bringing in more laser-based multifunction printers, Olympus plans to focus on medical in the Indian market. Imports of single lens or compact cameras have dropped from 1.5 million last year to 1.2 million this year.
Japan’s Olympus Corp is focusing on imaging devices for the medical segment where it is already a global leader.
“Olympus is investing behind cameras used by doctors in medical systems as the ticket size and consumer segment is different from that of cameras. It is a back up category for the company with 80 per cent of its revenues coming from it. This is going to be the growth segment for the company in the next five years,” said Mirza Ali Asgar, General Manger, Olympus Imaging India. Cameras are used by the medical profession for a variety of purposes ranging from endoscopies to x-rays.
Olympus is now planning to develop such cameras for the medical segment in developing markets like India.
Recently Kenichiro Mori, Managing Director, Olympus Imaging India had stated that he wanted to further strengthen its medical division as well as improve financial health in markets like India where it already have a 3 per cent share and plan to take it up to 10 per cent in the next two years.
Others like Canon India also want to move away from the camera segment, with a back up in the form of high end printers and photocopy machines. It recently unleashed a series of new laser multifunction printers targeting enterprise, BFSI (Banking Financial Services and Insurance), Government and SMBs (small and mid-sized businesses).
“Today the camera division contributes about 50 per cent of our sales turnover but we see this changing as printers and Xerox machines are recording high growth between 8-10 per cent.
“Canon is also seeking to gain revenues from servicing and maintenance of the high end printers through a new division which caters to enterprises,” said an official from Canon India.
Meanwhile market leader Nikon is still hoping that growth in professional cameras, the DSLR segment, will make up for the slowdown in compact cameras.
Sajjan Kumar, VP, Imaging, Nikon India said, “The camera category has de-grown by 20 per cent while the DSLR segment is growing at 25 per cent. Since we are the category leaders, we do not need a back up category but will focus on the new options within professional cameras.”