Fujifilm expects India camera biz to grow in triple digits, to expand offline retail presence

Japanese photography and imaging major Fujifilm on Monday said it expects its camera business in India to grow in "triple digits" this fiscal, and is working on expanding its network of offline retail stores to 60 outlets.

The company, which competes with the likes of Nikon, Canon and Sony in the "mirrorless" camera segment, said it has expanding its product portfolio aggressively in the country, targeting both amateurs and professionals.

"Last year, our business grew by 290 per cent and we expect to see similar triple digit growth this year as well. In the first half of this fiscal itself, we have seen triple digit growth," Fujifilm India National Business Manager Electronic Imaging Division Arun Babu said.

He added that the company's latest launch X-A7 (compact and lightweight mirrorless digital camera) - priced at Rs 59,999 - would entice audiences like photography enthusiasts and bloggers.

Babu, however, declined to comment on specific revenue numbers of the segment.

A mirrorless interchangeable lens camera is a like a conventional DSLR camera, but uses a digital display system rather than an optical mirror and optical viewfinder.

Babu said the interchangeable lens camera segment (which includes mirrorless and DSLRs) in India was estimated to be about 4 lakh units in 2018.

"This segment in India has been declining by 15-20 per cent. But within that, the mirrorless segment has been growing very fast...It is expected to overtake the DSLR segment by FY2022-23," he added.

Presently, the mirrorless cameras are estimated to account for about 20 per cent of that segment by the end of the ongoing fiscal.

Babu said the company has expanded the number of retail stores in India from 21 last year to 40 currently.

"We expect this number to grow to 60 by the end of the ongoing fiscal," he said adding that these stores operate through the franchise route.