Sony India expects 30-35 pct rise in revenue in next 2-3 years

Electronics giant Sony India on Tuesday said it expects the share of revenue from the premium segment to rise 30-35 percent over the next two to three years.

"Premium products' share of sales would be 20-25 percent now for Sony India and this should rise to 30-35 percent in a couple of years... say in 2-3 years," Sony India Managing Director Sunil Nayyar said here today on the sidelines of unveiling the company's festive offerings here.

Nayyar, the first Indian to head the company operations in the country, said he is hopeful that all product categories will show signs of robust growth, including audio and digital imaging businesses, besides the staple television category, which tops the India revenue with 60-65 percent share.

He said Sony India is trying to raise the premium image, but at the same time, attempting to make such products affordable for consumers.

"We are partnering with companies that offer financing schemes to make purchases more affordable," Sony India Sales Head Satish Padmanabhan said.

The electronics major is also working on manufacturing 65-inch televisions in India and hopes this to be a reality over the next six months.

At present, up to 55-inch televisions are being sourced from Indian OEMs. Once the 65-inch TVs get made in India, they will be more affordable, officials said.

In television, Sony categorizes 55-inch and above as premium, priced around Rs 1 lakh and beyond. Sony India had recently said it was planning to raise local sourcing to 55 percent in the current fiscal, up from the existing 30 percent.

Meanwhile, with the upcoming festive season, the total sales was expected to be close to Rs 300 crore in Bengal, a rise of 27 percent over last year, the officials said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)