Sony India, the 100 per cent subsidiary of Japanese consumer electronics giant Sony Corporation, has projected sales of over Rs1,200 crore for fiscal 2005, an increase of over 50 per cent mainly through new products and IT-related peripherals, and plans to garner about 10 per cent share of the market.
The company has charted out a three-pronged strategy to increase the market share covering new products, including simultaneous launches in India, roll-out of new technology — Wega digital signal processing — and enhancing the service network from 110 to 179 outlets.
The General Manager of Sony India, Mr Mohit Parasher, told Business Line "the company is eyeing over 10 per cent market share in both consumer electronics coveringaudio, video and digital products and various IT peripherals.
As against a total turnover of about Rs 800 crore for year 2003-2004, the company has targeted about 1,200 crore this year. We are on course to achieving that given the performance in the first few months this financial year, which has shown a growth of over 51 per cent."
Mr Parasher, who inaugurated the Sony World mega store at Banjara Hills, said, "South India is a strong market for Sony India in terms of its market potential and intensity. This mega store will offer the entire range of hi-tech products and provide a forum for the customers to become acquainted with the entire gamut of Sony technology offerings."
Currently, Sony India has about 104 Sony World and Sony Exclusive stores in the country and plans to rapidly grow them to about 140 by the end of this year.
"Within the IT product range, LCD monitors would now be marketed here along with other digital media and entertainment products. With regard to Aiwa, we are in the process of working out a comprehensive route map for its entire range of products. We may consider the possibility of marketing them through these Sony outlets. Principally, the Aiwa range is projected to attract the youth both in the audio and personal entertainment segments; the latter would be through network-related products that help both upload and download music and entertainment," Mr Parasher said.