Legend axes digital camera price
29/7/2003 17:53
Starting yesterday, China's electronic heavyweight Legend Group has
chopped the price of its 3-million pixel digital camera V30 down to 1,698 yuan
(US$205), a sign that the price war waged in China's digital camera market is
spreading to the high-end sector, today's jing Morning Post reported.
The
price after cut hits the record low for domestic digital cameras with similar
functions, according to industry sources, while that of most other products on
the market stays above 2,500 yuan.
It has broken the psychological price
level of most Chinese camera buyers, but impossibly leaves any profit margin for
the manufacturer, they said.
Legend hopes the low price strategy would boost
up its sales and help it to tap the huge potential of China's high-end camera
market.
Betting that the 3-million pixel product will dominate this year's
digital camera market in China, officials with the company said they would win
over the entire market through controlling the high-end sector.
They expected
3-million pixel products would account for 38 percent of China's digital camera
market this year.
Also keen for this huge market, overseas camera brands are
stepping up their presence in China, the Beijing Morning Post report said. The
brands include Canon, Olympus, Nikon, Fuji, Kodak and
Samsung.
BeiJane Chen / Shanghai Daily news
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