Panasonic aims 30 pc market share in Rs 1.5 lakh camera segment

New Delhi: Panasonic is aiming to have around 30 per cent market share in Rs 1.5 lakh and above camera market, as the firm is targeting new age photographers and videographers along with youtubers, said a top official.

The Japanese consumer electronic maker, as per its strategy, would focus on providing high end 4K video recording features along with still images through its range of mirror-less cameras and further strengthen its product portfolio in the segment, he added.

"Our vision for 2020 is to have 30 per cent market share in Rs 1.5 lakh segment and above," said Panasonic India Product Head-Digital Imaging, Gaurav Ghavri.

The company has 17 per cent share in the Rs 1.5 lakh and above segment currently. He further said presently Panasonic "in consolidation have 4 to 5 per cent of the total segment because this also includes the entry level mass products, which we do not cater".

The DSLR market is estimated to be around Rs 2,200 crore in India and is still largely dominated by two other Japanese maker - Nikkon and Canon.

"Lumix GH 5 has been a breakthrough model for us, which has made our entry into the professional segment. People has accepted us here as a manufacture of good cameras. We are a professional company, when it comes to camera market," Ghavri added.

The company, which is celebrating its 10th anniversary of its mirror-less series Lumix G, today introduced two new models - G7 and G85 to strengthen its portfolio in the segment. "Our strength has been video and that is where we want to focus on. There is lot of monetisation happening at YouTube. People want to create good content and people understand that mobile video can not suit their requirements," he said.

G7 priced at Rs 53,900 will target the amateur photo enthusiasts, while G85 prices at Rs 72,900. As part of its marketing strategy, Panasonic will add more 4K experience zones in its network to woo potential customers besides associating with photo schools.

"That's a different channel which we are creating. We would expand it to most of the metro. We would have even these experience zones in the small emerging markets in a shop-in-shop concept," he said.

Presently, Europe is the leading market for Panasonic in the segment, and in some countries such as Germany and Spain, it is leading player in the mirror-less interchangeable lens segment.

Panasonic has commenced its operations here in 1972 and had a turnover of Rs 9,600 crore in FY 2016-17.