Japanese imaging major Nikon expects its sales in India to grow by
just 5 per cent and Rs 1,050 crore turnover in the current fiscal as
compared to 25 per cent growth last fiscal due to economic slowdown.
"Due to economic slow down we expect to grow by 5 per cent and report turnover of Rs 1,050 crore this year. However, Indian market has huge potential and we strongly believe growth will bounce back once economy revives," Nikon India Pvt Ltd Managing Director Hiroshi Takashina told PTI.
The company had reported turnover of Rs 1,000 crore and growth of 25 per cent in the last financial year.
The company expects sales growth to bounce back to minimum 10 per cent in the next financial year, he added.
Nikon India, which contributes 1.5 per cent at present to the parent company's turnover, is targeting to increase it to 5 per cent in the next five years and India to become top 10 market for the company by then.
"At present, Nikon India is positioned at 10th place in compact camera sales but in DSLR sales, India in among top 20. We expect DSLR sales to pick up and India to be top 10 market for Nikon, Japan," Takashina said.
Europe, North America, China and Japan are the top market for the company.
The company, which at present imports all its products from its factories in Japan, Thailand and China, may look at local manufacturing if the demand for DSLR shoot significantly.
"At present, total market for DSLRs is just 2.5 lakh units. It is unlikely that we would begin manufacturing in India in the next 5 years. We may look at it only when the demand goes up significantly," he said.
Compact camera and DSLRs contribute equally in the company's sales.
Nikon India is bullish about festive sales and expect about 30-35 per cent sales from the festive season.
The company is also organising bloggers meet across the country to connect with photography enthusiasts and to communicate with its target customers. It has already organised in Mumbai, Banaglore and Delhi. It will soon move to other cities like Kolkata and Hyderabad.
"Due to economic slow down we expect to grow by 5 per cent and report turnover of Rs 1,050 crore this year. However, Indian market has huge potential and we strongly believe growth will bounce back once economy revives," Nikon India Pvt Ltd Managing Director Hiroshi Takashina told PTI.The company had reported turnover of Rs 1,000 crore and growth of 25 per cent in the last financial year.
The company expects sales growth to bounce back to minimum 10 per cent in the next financial year, he added.
Nikon India, which contributes 1.5 per cent at present to the parent company's turnover, is targeting to increase it to 5 per cent in the next five years and India to become top 10 market for the company by then.
"At present, Nikon India is positioned at 10th place in compact camera sales but in DSLR sales, India in among top 20. We expect DSLR sales to pick up and India to be top 10 market for Nikon, Japan," Takashina said.
Europe, North America, China and Japan are the top market for the company.
The company, which at present imports all its products from its factories in Japan, Thailand and China, may look at local manufacturing if the demand for DSLR shoot significantly.
"At present, total market for DSLRs is just 2.5 lakh units. It is unlikely that we would begin manufacturing in India in the next 5 years. We may look at it only when the demand goes up significantly," he said.
Compact camera and DSLRs contribute equally in the company's sales.
Nikon India is bullish about festive sales and expect about 30-35 per cent sales from the festive season.
The company is also organising bloggers meet across the country to connect with photography enthusiasts and to communicate with its target customers. It has already organised in Mumbai, Banaglore and Delhi. It will soon move to other cities like Kolkata and Hyderabad.
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