Sony likely to spend Rs 800 crore to boost market share in India
Consumer electronics giant Sony will spend Rs 800 crore in India this year, up from Rs 650 crore last year, to boost its sales and distribution network and increase investment on marketing its latest gadgets.business Updated: Jul 08, 2014 08:31 IST
Consumer electronics giant Sony will spend Rs 800 crore in India this year, up from Rs 650 crore last year, to boost its sales and distribution network and increase investment on marketing its latest gadgets.
India is Sony’s fourth largest market worldwide after United States, China and Japan. Sony India reported revenue of Rs 10,000 crore in 2013-14 and with sales growing around 25% each year, India could even race ahead of Sony’s home market of Japan in the future, feels Kenichiro Hibi, managing director, Sony India.
To drive growth the company is focusing on three main categories – smartphones, LED and LCD televisions and cameras.
“Mobile phones is our fastest growing business here, in an industry, which itself is skyrocketing. So every two years doubling of sales can be expected. Our TV business is also doing well. These two will be our two big pillars here, and we are also looking to expand our digital camera business,” he told HT.
Sony has a 10% share in India’s smartphone market and accounted for around 10-15% of its total sales here. It has planned close to 30 launches in the segment this year.
“Sony currently has 100 mobile phone lounges, 250 Sony brand shops and around 365 service centres in India. While we will continue to expand across the board, the focus is on growing mobile lounges, which could more than double this year,” said Hibi.We have a total distribution reach across 20,000 towns and that will also grow further, he added.
Sony hopes to bring more high-end products like ultra-high definition TVs and flagship smartphones and tablets to the country without much delays from their global launch and will also offer more affordable products in small towns, Hibi said.