Sony India Eyes Continued Growth Driven by Premiumization Trend

Sony India recorded a 21% growth in 2023-24 and aims to sustain this momentum, driven by premiumization in TVs and consumer electronics. The company anticipates a slowdown due to a high base effect but remains optimistic with significant festive sales. Expecting growth in gaming and digital imaging sectors.

Consumer electronics giant Sony India recorded an impressive 21 percent growth in the fiscal year 2023-24, propelled by the rising trend of premiumization within the TV and consumer electronics markets, according to Managing Director Sunil Nayyar.

Despite anticipating a moderation in growth rates for the current fiscal year due to a high base effect, Nayyar expressed optimism following a 40 percent surge in festive sales during Onam in the southern market. He expects a strong performance during the upcoming festive season, including Durga Puja and Diwali.

Nayyar highlighted Sony India's dominance in the premium television segment, with significant market shares across various screen sizes. He also emphasized the company's success in the gaming and digital imaging sectors, projecting continued robust growth driven by India's increasing affluence.