Sony aims for strong foothold in India
In sync with its ambition to become the most-favoured electronics manufacturer in India, Japan-headquartered Sony Corporation is targeting $3 billion revenue from the country’s operations in the next two years.
“We aim to become $3-billion (Rs 16, 500 crore) company by the financial year 2014 through the aggressive business strategy in India,” Kenichiro Hibi, managing director, Sony India told HT."Consumer electronics business would be a major contributor to the targeted turnover," said Hibi. "Presently, it contributes more than half to the total revenue and we expect the momentum to continue."
Sony has identified three product categories to drive sales growth. It comprises flat panel television (Bravia) followed by laptops (VAIO) and mobile (Xperia) category.
The technology major is betting on product customisation aimed at the mass market to drive its aggressive sales plan.
“Our engineers personally met hundreds of Indian customers to precisely understand their taste in terms of brightness and vividness of colours,” Hibi said.
The electronics giant’s goal is a firmer grip on Indian market, considering that the company plans to increase its existing distribution network to 7,000 outlets this fiscal year, up from 6,000 last year.
Moreover, Sony has set an ambitious target to sell over 12 lakh units of its flat panel range Bravia by the end of the fiscal year against 9 lakh units sold last fiscal.
“We are investing over Rs 200 crore to support the campaign aimed at boosting sales of flat panel segment,” said Hibi. “Otherwise too, we will pump up an investment of Rs 450 crore for brand promotions, this year.”