- Sony India aims for Rs 10,000 crore revenue, eyeing third-largest market position globally.
- Focus on premium televisions, audio products, and gaming to drive growth.
- Targeting a 20% annual growth, leveraging India’s economic and consumer wealth rise.
Sony India is poised to become the third-largest market for Sony globally, surpassing Japan within the next two years. The company achieved a revenue of Rs 6,353 crore in 2022-23 and aims to reach Rs 10,000 crore soon.
This growth is driven by a strategic focus on premium televisions, audio products, and gaming, aligning with the rising wealth and evolving preferences of Indian consumers.
Sony India Targets Rs 10,000 Crore Revenue, Set to Surpass Japan
Managing Director Sunil Nayyar emphasized the company’s bullish outlook on India’s growth trajectory. Sony India is also expanding its digital imaging and professional solutions businesses, positioning itself as a technology-oriented company targeting Gen Z and millennials. This diversification aims to sustain Sony’s robust growth in the dynamic Indian market.
The company’s Managing Director, Sunil Nayyar, highlighted the favorable economic conditions in India, which contribute to the company’s optimistic outlook. He pointed out that the increasing disposable income of Indian consumers is driving demand for high-quality products, aligning perfectly with Sony’s premium product strategy.
In addition to televisions, Sony India is placing significant bets on its audio and digital imaging businesses. The audio segment, which includes soundbars, party speakers, and wireless headphones, is evolving rapidly and gaining traction among younger consumers. Similarly, the digital imaging business, encompassing cameras and professional solutions, is poised for significant growth.
Sony India is also capitalizing on the booming gaming industry with its PlayStation products. This diversified approach ensures that the company is not overly reliant on any single product line, thereby sustaining its growth momentum. The company’s adaptability and focus on innovation are key drivers of its success in the competitive Indian market.
Sony India’s strategic focus on premium products and technological innovation, coupled with India’s robust economic growth, positions it well to surpass Japan and become Sony’s third-largest global market within the next two years.
“We are hopeful about India as a country itself. So within this context, and parameters and with our product portfolio, plus our strategy of making the premium as mantra to the market, we hope that we should be number three quite soon,”
– Sunil Nayyar.
