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Hiroshi Takashina in Calcutta on Wednesday. Picture by Kishor Roy Chowdhury
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Calcutta, June 6: Nikon India is eyeing a revenue target of Rs 1,200 crore this fiscal and said it could hike prices of products if the rupee depreciated further. A fall in the rupee along with exchange rate fluctuations have affected the company’s profitability.
Floods in Thailand and the tsunami in Japan had affected Nikon’s Rs 900-crore target in 2011-12. The company said India had the potential to contribute about 5 per cent to its global revenues in three years against 1.5 per cent now.
“Nikon has successfully increased its market share in Europe. We have secured the number one position in compact cameras there. In India, however, the rupee depreciated more than 10 per cent since April. This depreciation will directly affect our costs. If the exchange rate continues to remain the same, we will be forced to increase prices before Diwali,” said Hiroshi Takashina, managing director, Nikon India.
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