Japanese multinational corporation, Nikon, has officially established its presence in the Nigerian market following the growing importance of the nation’s economy — Africa’s second biggest.
According to BusinessDay, the camera manufacturer said at a forum recently that it was focusing on the Nigerian market because of the numerous indications that it would become the largest market in Africa.
Nigeria’s 150 million populace promises irresistible profit that make its market attractive, pulling in foreign investors despite security and infrastructural challenges.
According to Kish Primalani, MD of New Creation Worldwide Link, Nikon’s Nigeria distributor, the Nigerian market and by extension, the African market, offers huge potential to DSL professional cameras.
Based on a report, Narendra Menon, Regional Sales Manager, Nikon Middle East FZE, mentioned that prior to the company’s opening in Nigeria, the Tokyo-based manufacturer had no brand campaign and insignificant market share in the country.
Nikon’s entry pitches the company in a difficult competition against market share giants Samsung and Canon, which will see it offer faster and more accessible customer service delivery if it is to increase market share.
Area Manager, Nikon Middle East and West Africa, Rohit Sawhney, has said customers would get a year warranty and free service warranty for each camera purchase. “We are here to work with customers to achieve the number one position in Nigeria,” he declared.
Primalani stated that the Nikon products in the country would be priced competitively to discourage the unofficial importation and sales of the products. “One of the things I want to do is to price our Nikon cameras competitively so that those importing grey cameras will stop,” he said.
The company lamented that majority of the Nikon cameras purchased in the country were from unauthorized sales channels which did not offer any warranty or after sales service thereby leaving consumers at a disadvantage, and in the long run negatively affecting consumer perception of the Nikon products.