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Nikon ready for competition on Russian Market
4.08.2008 16:26
Nikon ready for competition on Russian Market

Nikon has launched an office in Russia in order to increase annual sales volume from $170 million up to $280 million. The company is set to start direct import to Russia.
      Since Russia abolished import duties on cameras, the vast majority of key players of the international camera market, such as Samsung and Sony, have opened offices in Russia.
      The volume of the Russian camera market grew 30% in 2007 and is estimated at $1 billion. The research conducted by Investment Company Finam releals the market situation: Canon accounts for 38%, Sony 36%, Nikon 17%, Panasonic 12%, Olympus 7%.
      Thus, Nikons sales volume in 2007 made up $170 million. The company plans to put competitive pressure on its rivals by opening an office in Russia.


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