Electronics major Sony, a late entrant in India’s fast growing smartphone market, is in a hurry to catch up with market leader Samsung.
The Japanese giant, looking to double its share in India’s smartphones market to 20% by end of 2014-15 and triple its smartphone sales revenue to `3,500 crore by end of this fiscal year, on Wednesday launched the Xperia Z1, a premium end waterproof smartphone priced at Rs 44,990.
“Smartphones will be a major revenue pillar for us,” said Kenichiro Hibi, MD Sony India. In effect, Sony would get a third of its India revenues from smartphone sales.
The phone competes with Samsung’s recently-launched Galaxy Note 3, but is priced lower. India’s smartphone market, growing 100% annually, is heating up further as brands jostle to launch newer models.