Japanese photography and imaging major Fujifilm is looking at seizing opportunities in the fast growing interchangeable lens camera segment in India by targeting the professional and photo enthusiasts through its range of mirrorless cameras.
As part of its strategy, Fujifilm India will focus on more professional niche products in the segment and expand retail footprints by adding more touch points.
The company today launched Fujifilm X-H1, a high performance mirrorless digital camera in the X Series, which would be compatible with a range of interchangeable lenses priced at Rs 1.49 lakh (body only).
“Professional photography in India is gaining momentum and we see immense potential in this market,” said Fujifilm India Managing Director Haruto Iwata.
The company is eyeing to be a leader in the mirrorless camera segment, which is presently 10 per cent of the interchangeable lens market.
“With the vision to capture No. 1 market share in the premium mirrorless camera market by 2019, we will continue to evolve by offering outstanding image quality and advance features that will always exceed expectations,” Iwata said.
According to Fujifilm, in FY 2016, the total market size of Digital Still Camera (DSC) was estimated to be around 8 lakh units in which 6.17 lakh was DSLR and mirrorless was around 32,500.
However, in FY 2017, the market size of DSC shrank to 7.6 lakh units, of which DSLR was 6 lakh and mirrorless is around 60,000 units.
“Presently, mirrorless technology has around 10 percent share and is growing fast. For the next five years, the estimated y-o-y growth of the segment is above 25 percent,” said Fujifilm Executive VP Graphic Arts Division S M Ramprasad.
“Globally, mirrorless camera in the interchangeable lens segment is catching DSLR rapidly; and we expect that in 2019, it would come close to 50:50,” he said adding that the trend is slowly catching up in India also.
Fujifilm is also planning to expand its retail footprint here to increase its presence and visibility.
“We would build more touch points and organise events and workshops for photographers,” Iwata added.
According to Ramprasad, the interchangeable lens market is moving more towards premium and niche products as mass compact camera market is being taken by the smartphones.
This is published unedited from the PTI feed.