Nikon eyes double-digit growth in compact digicams

TOKYO, Feb 20 (Reuters) Nikon Corp. expects double-digit shipment growth in compact digital cameras during the next business year and aims to recover a global market share of about 10 percent helped by the launch of new models.

Nikon on Tuesday unveiled seven new compact cameras for the spring season under the Coolpix brand, including a high-end model with 10-megapixel resolution and an ultra-small device that can shoot images in less than a second after turning on the power.

Tokyo-based Nikon had squeezed shipments of compact models and avoided a rigorous price war to focus on profitability while other makers such as Konica Minolta Holdings Inc. and Kyocera Corp. had to withdraw from the business amid intense competition.

Nikon, which has said it aims to ship 6.5 million compact digital cameras in the year ending March, hopes the new models will help it lift its market share from the current 8.5 percent.

Nikon has enjoyed strong popularity for its digital single-lens reflex (DSLR) cameras, advanced models geared for professionals and photo hobbyists, which has helped the company post big jumps in quarterly profit and raise full-year forecasts earlier this month.

The camera market saw a boom for entry-level DSLRs last year, with new players such as Sony Corp. trying to bite into top maker Canon Inc.'s more than 50 percent market share. Nikon trails No.

2 with around a 37 percent share.

Shares in Nikon ended unchanged at 2,780 yen on Tuesday, in line with the overall market.

REUTERS CS DS1301