Nikon Starts Indian Subsidiary

The USD 6.3-billion Nikon Corporation, with operations straddling America, Europe, Oceania, Asia , Middle East and Africa, today announced the establishment of its 100 per cent subsidiary in India. Nikon India will manage the Indian as well as the large Middle East market (comprising Saudi Arabia, Dubai, Turkey, Iran, Bahrain, Israel, Oman, Qatar and UAE).

Nikon India Private Limited is set to delight the Indian photography enthusiast with a wider variety of its world renowned professional and compact digital cameras, the Nikon D-SLRs and the Nikon COOLPIX.

Speaking on the occasion, Hidehiko Tanaka, Managing Director, Nikon India Private Limited said, "We are glad to launch a 100 per cent subsidiary in India, which is a highly promising market. The presence of Nikon India will lead to enhanced consumer choice and greater consumer outreach programs through an augmented distribution network as well as superior service support. We will also undertake various activities like workshops and photo-contests to promote the photography culture in India in a manner that addresses the needs and aspirations of the Indian photographic community. As part of our Vision 2010 we hope to capture 45 per cent of the Indian digital SLR market and 10 per cent of the Indian compact camera market."

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While Nikon already has two regional distributors, these networks will be augmented. By the end of 2006-07 Nikon plans a more than 100 per cent expansion in retail consumer outreach through its dealer network.