Camera maker Fujifilm today said it will exit India's ultra low-cost (ULC) market, where models are priced below Rs 4,000, within next three months to improve revenue generation.
"We will stop selling the ULC models in India. These are less profitable and none of the competitors are present in this segment. We will focus more on strengthening the brand position," Fujifilm India Executive Vice President Rohit Pandit said.
As all models are imported from Japan and China, the recent fall of rupee has affected the margins of the ULC cameras, he added. "Last year we sold models like C20. This year we have sold C25 and L30. We have already stopped importing of these models. We are left with only C25 stock, which will be exhausted in the next three months," Pandit said.
Following this, the company's price range will start from Rs 4,999 with AX500 and it will go up to Rs 99,999 for X-Pro1. Pandit said on the basis of the focus on expensive cameras, Fujifilm India is expecting its revenue to grow by about 90 percent to Rs 190 crore in 2012 from about Rs 100 crore in last year.
"We are also expecting to increase our market share in Indian digital camera segment. We are targeting 10 percent market share by the end of this year from about 7 percent in 2011," Pandit said. According to Fujifilm India, the Indian digital camera market is expected to reach 35 lakh units in 2012 from about 28 lakh units in last year, he added.
The company unveiled a range of new high-end lenses for the Indian market. By 2013, the number of total to 10 lenses from the current offering of three, Pandit said.
Updated Date: Dec 20, 2014 09:40:32 IST