Nikon expecting double-digit growth in compact digicam sales

Nikon has said in a statement that they expect to see double-digit shipment growth in compact digital cameras during the next business year.

The digital equipment maker is also now aiming to increase its global market share to about 10 percent. For this they are launching a series of new exciting products to attract the consumers.

The company has also just unveiled seven new compact cameras for the spring season under the Coolpix brand. This new range includes a high-end model (P5000) with 10-megapixel resolution. They have also launched an ultra-small device (S500) that can shoot images in less than a second after turning on the power.

Nikon is also cutting back on shipments to avoid low pricing of their products. In addition, they are also focusing on enhancing profitability of their products to stay profitable in this ultra competitive market which has already seen exits of established players like Konica Minolta Holdings Inc. and Kyocera Corp.