Mirrorless now half of revenue; company on track to grow 40%: Nikon India MD

The Nikon Z9 was recently launched in India for Rs 4,75,995.

Despite the pandemic, Kumar said Nikon is on track for a 40% growth this financial year. “The first half looks very good and compared to last year the recovery is much more,” he said, adding that the launch of the Z9 is expected to give a boost to the numbers.

The company is aiming for a Rs 745 crore revenue this year compared to Rs 520 crore in the last financial year which was impacted to a certain extent by the pandemic. India now contributes to 5% of Nikon’s global imaging business.

Kumar said there were a lot of learnings in the pandemic year, right from how to remain in touch with customers to managing the supply chain and keeping the team engaged. “Component shortages are still going on which is impacting maybe timely availability of the products. We are trying our level best,” he elaborated.

During the lockdown, Kumar said, there has been a significant growth in the creators segment. “We have seen a big spike. They might start from a smart device but will gradually migrate to a proper device which can showcase their work,” he said, adding that Nikon has introduced a new kit for such vloggers giving them a set of equipment that makes this transition easier.

Nikon is also banking on the expected spike in weddings this year as the Covid-19 situation eases up across the country. “This wedding season, in the first month itself some 2.5 million events are planned. It is almost near per-pandemic levels now,” he said, accepting that the segment has also changed in the past year with increasing prominence for live streaming and pre-wedding shoots.

Also, as an indicator of how the economy was improving, Kumar cited that this year Diwali was “one of the best in the past few years”.