Sony India anticipates becoming its third-largest market globally within the next few years, surpassing Japan. Currently, India stands as Sony’s fourth-largest market after the United States, China, and Japan. The company’s revenue reached Rs 6,353 crore in the financial year 2022-23, with an impressive 20% growth in the fiscal year 2023-24.
Sony India’s Managing Director, Sunil Nayyar, expressed confidence that the company’s business will touch Rs 100 billion soon, driven by the premium television, gaming, and imaging segments. Nayyar emphasized the growing purchasing power of Indian consumers, stating that the upward trajectory of i*ncome growth would lead to increased spending on quality products.
Sony plans to introduce new technologies in the Indian market, particularly in the audio and video segments. The company aims to expand its leadership in the imaging and gaming sectors, with the TV business remaining a primary growth driver. The audio segment, which includes soundbars, party speakers, and true wireless headphones, is set to evolve, targeting Gen Z and millennial consumers.
The digital imaging business, encompassing cameras, and the gaming business, including PlayStation, are also expected to see significant growth. Nayyar noted that Sony is transitioning from a traditional audio company to a technology-oriented firm, with substantial promise in digital imaging. He believes that maintaining a top-three position globally will be beneficial for Sony’s overall growth.
Source: ET Now
