Japanese camera giant Nikon Corporation today said it expects 20 per cent growth in the digital single-lens reflex (DSLR) camera segment in India in 2014-15.
"We expect a very steady growth in the coming year. We would expand with another 20 per cent growth," Nikon India Managing Director Hiorshi Takashina told PTI.
"This year, although the economy is slowing down, we would have very steady growth of 20 per cent," he said.
The total market size of DSLR cameras in 2013-14 was 3 lakh units. It is expected to be 3.6 lakhs in the next financial year. Nikon expects to maintain its lead with 55 per cent market share.
Despite slowdown in the economy, DSLRs would remain in demand as customers having compact cameras (point and shoot) and smart phone are upgrading to get a better picture result, said Takashina.
Nikon India, a fully owned subsidiary of Nikon Corporation today introduced two new DSLRs - D4S and D3300.
Overall, the company expects a turnover of Rs 1,050 crore by the end of this financial year, ending March 31, and has a target of Rs 1,100 crore for 2014-15.
Nikon India, currently contributes around 3 per cent of its global turnover and plans to grow it to 5 per cent in the next three years.
According to Takashina, Nikon has 55 per cent market share in the DSLR segment. It is going to air TV commercials to promote its DSLRs from mid of April, featuring its brand ambassador Priyanka Chopra.
"India has a huge potential for DSLR segment due to its growing number of youths... We assume that over 5-10 years, a growth of up to 20 per cent would continue. This is very important market for us," he added.
Apart from DSLR, Nikon is expecting to hold around 38 per cent of the compact cameras in the financial year 2014-15.
"In the compact camera, we are having 33 per cent market share in India. In the coming fiscal, we would like to expand our share in this segment to 38 per cent," he said.
On being asked that whether Nikon has any plans for local assembly line, he said: "At this moment, we do not have. We are importing DSLR's from Japan and Thailand rpt Thailand. But in future, if it becomes necessary, then we would."
Apart from cameras, Nikon has also introduced its binoculars in the Indian market last year and is expecting 10 per cent growth in this segment.
