New Delhi: Nikon India expects double-digit growth in India in the current fiscal year and aims to strengthen its imaging business with more launches and market expansion, top company officials said on Thursday.
Currently, India contributes around 6 per cent of Nikon's global imaging business, said Nikon India CEO Sajjan Kumar.
Additionally, Nikon is expanding its healthcare business in the Indian market, where it operates in segments such as microscopic solutions.
The company has plans to expand this vertical, which currently contributes around 5 per cent of its business here, Kumar said.
For fiscal 2024, Nikon India reported revenue of Rs 965 crore, Kumar said.
When asked about the current financial year, Kumar said, "We are targeting revenue of around Rs 1,060 crore, growing at 10 per cent."
Currently, India is the fourth largest market for imaging products after the United States, China and Japan.
"When it comes to imaging, we contribute almost 6 percent of the global turnover," he said, adding that "for full-frame cameras, we are number three (globally) in terms of overall positioning, We're at number four."
According to Kumar, the government is investing in the healthcare segment, which provides opportunities for the growth of Nikon's healthcare business.
"The way our government is focusing on the health sector, we are hopeful of having much faster growth in that segment," he said.
He is also looking to enter eye care solutions that have a stake in the ophthalmic lenses and ocular diagnostics segments.
On when the company plans to enter the segment, Kumar said, "For the ophthalmology and eye care business, wait for the right time."
Globally, in its healthcare vertical, Nikon operates in life sciences solutions, eye care solutions and contract cell development.
Keizo Fujii, managing director of Nikon Singapore, said the Indian market has the potential to be among its top three markets in the coming years, helped by the growing economy and the number of young people in the country.
"The Indian market is growing and the speed here exceeds our expectations," Fujii said, adding: "Nikon has high expectations for the performance of India and its imaging business."
According to Fujii, India's imaging business is slightly different from other markets.
"The wedding industry is leading the image business, in addition to film and photography," he said.
Nikon, which is a 100 per cent subsidiary of Japan-based Nikon Corporation, now has a pan-India presence and is focusing on improving quality after-sales services for its customers, Kumar added.
The company launched the Z6III model here on Thursday, which inherits the features of its high-end predecessors, the Z9 and Z8 models. Priced at Rs 2.48 lakh, it has superior autofocus capability, rich video specifications and an incredible still image capture speed of up to 120fp.
Nikon competes with brands like Canon, Sony, Fujifilm and Panasonic in the Indian market.
Currently, India contributes around 6 per cent of Nikon's global imaging business, said Nikon India CEO Sajjan Kumar.
Additionally, Nikon is expanding its healthcare business in the Indian market, where it operates in segments such as microscopic solutions.
The company has plans to expand this vertical, which currently contributes around 5 per cent of its business here, Kumar said.
For fiscal 2024, Nikon India reported revenue of Rs 965 crore, Kumar said.
When asked about the current financial year, Kumar said, "We are targeting revenue of around Rs 1,060 crore, growing at 10 per cent."
Currently, India is the fourth largest market for imaging products after the United States, China and Japan.
"When it comes to imaging, we contribute almost 6 percent of the global turnover," he said, adding that "for full-frame cameras, we are number three (globally) in terms of overall positioning, We're at number four."
According to Kumar, the government is investing in the healthcare segment, which provides opportunities for the growth of Nikon's healthcare business.
"The way our government is focusing on the health sector, we are hopeful of having much faster growth in that segment," he said.
He is also looking to enter eye care solutions that have a stake in the ophthalmic lenses and ocular diagnostics segments.
On when the company plans to enter the segment, Kumar said, "For the ophthalmology and eye care business, wait for the right time."
Globally, in its healthcare vertical, Nikon operates in life sciences solutions, eye care solutions and contract cell development.
Keizo Fujii, managing director of Nikon Singapore, said the Indian market has the potential to be among its top three markets in the coming years, helped by the growing economy and the number of young people in the country.
"The Indian market is growing and the speed here exceeds our expectations," Fujii said, adding: "Nikon has high expectations for the performance of India and its imaging business."
According to Fujii, India's imaging business is slightly different from other markets.
"The wedding industry is leading the image business, in addition to film and photography," he said.
Nikon, which is a 100 per cent subsidiary of Japan-based Nikon Corporation, now has a pan-India presence and is focusing on improving quality after-sales services for its customers, Kumar added.
The company launched the Z6III model here on Thursday, which inherits the features of its high-end predecessors, the Z9 and Z8 models. Priced at Rs 2.48 lakh, it has superior autofocus capability, rich video specifications and an incredible still image capture speed of up to 120fp.
Nikon competes with brands like Canon, Sony, Fujifilm and Panasonic in the Indian market.
