Sony India aims three-fold revenue jump in two years
Riding high on robust demand for its products across India, Sony has chalked out plans to triple its revenues from the country over the next two years. Vivek Sinha reports.business Updated: Jan 09, 2013 21:49 IST
Riding high on robust demand for its products across India, Sony has chalked out plans to triple its revenues from the country over the next two years.
The company has lined up a slew of products across its Bravia flat panel TVs, Xperia smart phones and Vaio tablets that are aimed at widening Sony's consumer base in India. The three categories account for over 70% of Sony India's sales.
"We have set a target to garner sales revenues of around R20,000 crore by the end of fiscal 2014-15," Kenichiro Hibi, managing director of Sony India, told reporters at the Consumer Electronics Show (CES) in Las Vegas.
Sony's water-proof smart phone Xperia Z is expected to be launched by March this year. The Xperia series of smartphones launched at the CES 2013 is expected to offer Sony ample ammunition to lure Indian customers in the premium segment, which at the moment is dominated by Apple's iPhone series and Samsung's Galaxy series.
The company registered net sales of R6,313 crore in 2011-12 and expects to close the current fiscal with a growth of more than 30%. At present India contributes between 5 to 10% of Sony's global sales.
At a global level Sony's India revenues have emerged as the fourth largest, overtaking its revenues in Brazil and Russia.
The company said it will filling gaps in its product portfolio, both at the premium and affordable ends, through launches spread over 2013.
(The writer's travel and stay were sponsored by Sony India)