Nikon sees India contributing 5% of global sales, names first Indian MD

Japanese imaging product major Nikon expects India to contribute around 5% of its global sales in next two financial years mainly on the back of growing sales of DSLR cameras, according to a top company official.

Nikon India, the company’s wholly-owned arm which on Tuesday announced top management changes with the appointment of Sajjan Kumar as its new managing director, is targeting a turnover of ₹1,200 crore in the current fiscal. Kumar is the first Indian to lead Nikon’s operations here. He takes over from Kazuo Ninomiya, who is moving back to Japan for a new role in Nikon Corporation after completing his three years tenure.

“India is an emerging market for Nikon and has good potential. We almost contribute 3% to Nikon (sales) globally. We are aiming, at least in next two fiscals, to contribute close to 5%,” Nikon India managing director Sajjan Kumar told PTI.

For the financial year 2017-18, Nikon India reported a turnover of ₹1,150 crore, posting a growth of 5%. “The revenue of the company grew by 5% last year, closing at ₹1,150 crore. This fiscal, the company is aiming at closing on ₹1,200 crore,” Kumar added.

Besides, Nikon India which presently has around 45% market share in the domestic market in D-SLR and compact cameras, expects to retain its position, he added. Last year, the Indian DSLR market stood at around 5 lakh units and this year, it is expected to be around 5.25 lakh units by registering 5% growth.

NEW DELHI: