Imaging products maker Fujifilm today said it expects to garner Rs 60 crore in revenue from its 'Instax' range of instant cameras as it aims to cash in on the youngsters' craze for photography.
The Japanese firm, which has partnered e-commerce company Flipkart to sell these products, also expects the revenues to double next fiscal.
"We have seen a phenomenal response from other markets. Last year, we sold 3.9 million units and this year, we hope to take it to 5 million globally. India is an important market as it is young and wants the best of technology," Fujifilm India MD Yasunobu Nishiyama told PTI.
He added that the company expects the products to do well among youngsters, especially teenagers.
"China and the US are the leading markets for us with Instax... In India, we are looking at a revenue of Rs 60 crore in this fiscal and then doubling it in the next financial year," he said.
The Instax series, priced between Rs 8,999 and Rs 11,499, enables users to obtain high quality credit-card size photos instantly. The camera uses a cartridge-like equipment that has ten photo papers for usage.
Fujifilm has also launched a portable photo printer for Rs 14,499 that allows users to print photographs clicked on their mobile phones.
"Fujifilm will spend about 7-8 per cent of revenue on marketing these products," he said.
Asked how Fujifilm would compete with smartphones, Yasunobu said these cameras are targetted at youngsters who want instant gratification.
"Youngsters today do not want to wait for their pictures to arrive. If you look at the cameras, there is only one picture that comes out. So, there is only one picture of that moment. That in itself is a value proposition," he said.
