Digital camera maker Olympus is looking at regaining its market share in India with a new marketing and brand strategy.
Having lost a significant slice of its market to brands such as Canon, Nikon and Sony, the Japanese firm has shifted its focus back on India, as the domestic digital camera market is growing faster than other developed markets.
In 2007, Olympus had a market share of about 15 per cent in the seven lakh domestic camera market. But, as other brands stepped up its India campaign, its market share tumbled to 3 per cent in 2012, when the overall camera market swelled to 27 lakh units.
“Now we are aggressively pursing a strategy to regain our market. We are aiming at a market share of 10 per cent by 2015, by which time we expect the overall Indian market to touch 33 lakh units," Kenichiro Mori, Managing Director of Olympus India, told Business Line.
He said although growth in the Indian camera market had slowed down in the last couple of years, the growth rate of five per cent was still higher compared to other markets.
amitmitra@thehindu.co.in