Japanese imaging firm Fujifilm is targeting Rs 120 crores sales next fiscal from its Instax range of instant cameras in India and expects the country to contribute eight percent to its global sales in this segment.
Fujifilm, which was earlier one of the global leaders in the photo films is trying to come back through instant cameras. The company has now launched three new cameras under its 'Instax Mini' series, priced between Rs 8,900 and Rs 14,500. Fujifilm is targeting the young generation through its 'Instax Mini' camera and smartphone printer and is aiming to sell up to 100,000 units in India this fiscal.
"We would have sales of Rs 60 crores this financial year from our instant cameras. This would be doubled to Rs 120 crores in FY 2016-17," Fujifilm India Managing Director Yasunobu Nishiyama told PTI.
"These products are designed keeping in mind the ever changing preferences of the Indian youth, offering unique features to complement the needs of the young customers," he added.
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Instax series was launched in India by Fujifilm earlier this year and it lets users instantly print credit card-sized photos. Fujifilm's Instax cameras are available in around 300 stores and Fujifilm is adding between 50 and 100 stores every month to expand its sales network. Apart from that, Fujifilm is also exploring online space to boost sales of its instant cameras and is available at all leading e-commerce portals.
"Our one-third sales would come from online channels apart from brick and mortar stores," said Nishiyama. The company is expecting that Indian market would contribute up to eight percent sales of global sales of instax range of cameras in the next five years. It has launched its instant camera in 60 countries and has received good sales response from developed markets like the US and Europe and also from emerging economies such as China.
"India is one of the fastest growing markets and percentage growth is higher here as compared to large markets of the US and Europe," Nishiyama added.
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This fiscal, Fujifilm is expecting to sell 5 million units of instax cameras globally. Established in 1934, Fujifilm had $21 billion (roughly Rs 137,671 crores) turnover in FY 2015 and boasts around 79,000 employees globally.
Image: TK Kurikawa / Shutterstock.com
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Source: Fujifilm targets Rs 120 crores worth of sales from instant cameras in India
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