Japan's Fujifilm is confident of doubling its instant camera sales to about 10,000 units a month, inspite of stiff competition from smartphone makers.
"We are not competing with smartphones. Instant cameras are about capturing memories, you don't have to wait for the film to be developed and you get a physical copy in your hands within minutes," Fujifilm India Managing Director Yasunobu Nishiyama said.
He added that since the launch of its Instax range in India in 2015, the company is now selling about 5,000 units a month.
The imaging business has been one of the worst hit by the booming smartphones industry. As the cameras on smartphones grew more sophisticated over the years, camera sales have dropped.
However, Fujifilm is not perturbed.
"We expect sales to double in the next one year or so. We are also introducing more products in the Instax range," he said adding that there is a strong demand from youngsters for instant cameras.
The company today launched its 'instax Square SQ10', priced at Rs 22,999.
Compared to the previous models, this 'digital hybrid' device allows users to compose the shot, view previous photos and make edits before printing out the picture.
To strengthen its position in the mirrorless camera segment, Fujifilm also added four new cameras into its X series priced between Rs 42,999 to Rs 1.14 lakh.
"India's mirrorless camera market is estimated to be Rs 60 crore and unlike other global markets, this market here is growing," Nishiyama added.
Fujifilm has presently Rs 1,000 crore turnover in India and 30 per cent of its business is imaging business.
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