is planning to further its market share in the television vertical in the country from the current 25 per cent to 35 per cent in the next two years by a slew of launches, which will cater to different market segments as well as increase its profit margins by raising localisation.
According to Satish Padmanabhan, sales head at Sony India, the primary growth driver to increase its market share will be on unique launches in the Bravia category.
The Bravia range accounts for 60 per cent of its Indian revenue.
In the current fiscal year, the Japanese electronics
goods maker plans to increase its production from India to 55 per cent from the current 30 per cent.
While it depends on the government policy decisions and the regulatory environment in the country, the increase of import duty on some of the most important components and finished products in the 2018 Budget boosted the company’s efforts to manufacture in this country.
However, in the near-term, the domestic production is expected to continue via its tie-up with Foxconn. TV
and electronic storage devices make up for the product portfolio which produced in India.
Nevertheless, it will continue to import 65 inch and higher screen finished TVs, audio products and cameras.
“It will help revive some of the margins we lost previously on account of the hike in import duty which we have absorbed”, Padmanabhan said.
On the other hand, it is also expecting the a 100 per cent growth in its camera business this year.
“In a couple of years, the non-Bravia business is expected to account for 50 per cent of our Indian sales”, he said.