Digital imaging firm Nikon India said will double its marketing budget to Rs 120 crore this year and has appointed Bollywood actor Priyanka Chopra as its new brand ambassador.
"Nikon is planning to double its advertisement and promotional budget to Rs 120 crore as compared to last year with the appointment of brand ambassador Priyanka Chopra," Nikon India said in a statement.
As part of the contract, the firm said the former Miss World will endorse the newly launched ''Coolpix Spring Series 2011'' range of compact camera.
The company today introduced 10 models under the ''Coolpix'' series priced between Rs 4,990 and Rs 26,950.
On the back of the initiatives, the company expects to garner a market share of 25 per cent in the next fiscal.
At present, Nikon enjoys a share of 20 per cent in the estimated 2.1 million units Indian compact camera market.
"We are planning to expand the market share to 25 per cent in 2011-12, with the introduction of 10 new cameras... We have already built up strong position of around 20 per cent market share in Compact Camera segment," Nikon India Managing Director Hiroshi Takashina said.
Business News inextlive from Business News Desk
