Fujifilm aims to double revenues in India by 2020

Chennai: Fujifilm India, a wholly owned subsidiary of Japan-based Fujifilm Holdings Corporation, is aiming to more than double revenues by 2020, on the back of huge demand for its digital medical devices, a top official said here.

The company had recorded revenues of Rs 900 crore in 2015, Fujifilm India managing director Yasunobu Nishiyama said.

"Our revenue was Rs 900 crore in (FY) 2015. This year we are expecting Rs 1,400 crore. By 2020, we are expecting revenues of Rs 1,800 crore...", he told reporters.

Nishiyama and senior company officials were here to unveil the company's first Experiental Zone -- Wonder Photo Shop at the Express Avenue Mall here.

"We are expecting to grow by 14 per cent this year.", he said to a query.

Asked on those factors that would drive the company to double its revenues from India operations, Nishiyama said 50 per cent of revenue was contributed from digital medical device business, remaining from photo-imaging and graphic card business, respectively.

"The demand for digital medical devices is increasing by 15-20 per cent (year-on-year)", he said, adding the market potential in the country was "huge".

To a query on the inauguration of Wonder Photo Shop business, he said, "investment in one Wonder Photo Shop will be Rs three crore. We are planning to have 8-10 Wonder Photo Shops across India."

The company would be investing around Rs 30 crore for expansion of Wonder Photo Shops over the next three years, he said.

On Fujifilm Wonder Photo Shop, he said the company had 18 Wonder Photo Shops in various countries including Europe, North America, Australia, China, Russia.

"The first Wonder Photo Shop was opened in Tokyo in February 2014," he added.