Nikon Eyes Double-Digit Growth in Compact Digicams
Feb 20, 2007
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Nikon Corp. expects double-digit shipment growth in compact digital cameras during the next business year and aims to recover a global market share of about 10 percent by launching new models.
According to Reuters, Nikon unveiled seven new compact cameras for the spring season under the Coolpix brand, including a high-end model with 10-megapixel resolution and an ultra-small device that can shoot images in less than a second after turning on the power.
Tokyo-based Nikon had squeezed shipments of compact models and avoided a rigorous price war to focus on profitability while other makers such as Konica Minolta Holdings Inc. and Kyocera Corp. had to withdraw from the business amid intense competition, according to Reuters.
Nikon, which has said it aims to ship 6.5 million compact digital cameras in the year ending March, hopes the new models will help it lift its market share from the current 8.5 percent.
The camera market saw a boom for entry-level DSLRs last year, with new players such as Sony Corp. trying to bite into top maker Canon Inc.'s more than 50 percent market share. Nikon trails No. 2 with around a 37 percent share.
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