Japanese consumer electronics major Sony expects India to join the company's top five markets by next year, sharing space with the US, Japan and China. At present, Sony India is at the sixth position.
"India contributes a mere 5% of the total revenue generated by Sony," said Masaru Tamagawa, managing director, Sony India. "We are eyeing 10% revenue contribution from India operations in the next 3-5 years."
"The company plans 30% sales increase by next fiscal year," said Tamagawa while announcing its sales achievement of Rs.6,313 crore in 2011-12 fiscal, up by 16%.
Despite ballooning losses globally, the company expects growth from sales of Bravia televisions, Vaio laptops and cameras.
"India is an important market for the company," Tamagawa added. "To drive the sales here, we will add 1,800 distribution networks this fiscal, taking the total number to 12,200."
Sony is also looking to increase its headcount in the country by 500 to 3,800 in the current financial year. This is in contrast to the reported job cuts of around 10,000 globally by the parent company, Sony Corporation.