Sony India suspends CTV production

Sony India suspends CTV production

Author | exchange4media News Service | Friday, Aug 06,2004 8:11 AM

Sony India suspends CTV production

Close on the heels of shutting down its audio manufacturing unit, consumer electronics firm Sony India has suspended production at its colour television facility and said that it was evaluating whether to close down the CTV unit.

"We are evaluating the viability of CTV manufacturing unit in India. At this moment, we cannot say whether the company will continue with the unit," Mr Mohit Parasher, General Manager (Sales and Marketing), Sony India, said on the sidelines of a press conference announcing the launch of products with 'WEGA' technology.

Sony India has invested about Rs 80 crore in India and is aiming at 50 per cent topline growth this fiscal over Rs 800 crore last year, which will come from CTV and digital imaging products.

Sony India, which has an impressive 45 per cent market share in audio products, closed down the audio manufacturing unit in June this year.

"We have given VRS to our employees, who used to work for the audio plant," he said.

At present, the company imports CTVs from a number of countries, including Thailand. Analysts point out that the decision to suspend production could be taken in view of the upcoming Free Trade Agreement (FTA) with Thailand.

Meanwhile the company today announced the launch of the WEGA engine technology in its premium home entertainment products to create a strong differential with competitors. The new technology "enhances picture quality by offering a very high resolution without the accompanying high noise levels", the company's PAN Asia Business Division Senior General Manager, Mr Negishi Neriaki, said.

Tags: e4m

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