Profits developing for Fujifilm cameras

Snap-happy shoppers in the UAE bought more than twice as many digital cameras made by Fujifilm last year than in 2010.

Sales more than doubled in terms of both volume and revenue, which has helped boost Fujifilm's market share in the region, the company said.

"We would like to continue in the same track and look forward to making another big jump in sales [this year], while maintaining our average price level," said Keitaro So, the general manager for Fujifilm Middle East.

But stiff competition from the likes of Canon, Nikon and others that plan to roll out new models this year will make it challenging to keep prices - and profits - up as the cost for many gadgets continues to fall. Revenue earned from the sale of digital cameras throughout the UAE and across all brands is expected to have returned to positive growth last year after two straight years of decline.

Some 792,000 models are forecast to be sold in the Emirates by 2014, according to the market research company Euromonitor International.

Tourists buy many of the cameras sold each year in the country as gifts, and sales tend to spike during major retail events such as Dubai Shopping Festival and Dubai Summer Surprises, according to Euromonitor.

Sales tied to Christmas have only helped manufacturers.

Fujifilm credits its boost in sales last year to setting up its regional headquarters in Dubai for Middle East and African countries a little more than a year ago. It has aimed offerings such as its FinePix models at local consumers on a budget but who want good-quality images, while its new X-Series cameras have been targeted at enthusiasts willing to pay for advanced features.

The company says it commands about 11 per cent market share globally, which makes it the fourth-largest camera maker in the world.

"Regarding Canon and Nikon, we are sure that our strong technology platform can lead us to compete with them and gain a greater market share," Mr So said. "We think that we are on the right path for the future."

Based in Japan, Fujifilm also sells photo-finishing equipment and printers as well as medical systems and products for the life sciences and pharmaceutical sectors.

nparmar@thenational.ae

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