Olympus Imaging Corp. has opened its first retail store in New Delhi, India marking its entry into a region dominated by market leaders Nikon and Canon.
Olympus plans to follow this up with five or six more stores in other Indian cities in the next two months and ultimately establish a network of stores and service centers in the South Asian country over the next two or three years.
The company had previously been selling its digital cameras through franchise in India.
Sales of cameras in India more than doubled to 700,000 last year and are expected to reach 1.6 million by 2010; digital cameras account for about 42 percent of total sales.
Olympus said it is aiming to achieve 30 percent to 40 percent growth in its India sales over the next two to three years.