Sony Eyes India as Key Growth Market, Aiming for Third Place Globally:

Japanese consumer electronics giant Sony is optimistic about India’s potential, projecting that the country will soon overtake its home market to become Sony’s third-largest global market. Currently, the U.S., China, and Japan lead in Sony’s market rankings, with India positioned just behind.

In an interview with PTI, Sony India Managing Director Sunil Nayyar shared that the company’s revenue in India reached Rs 6,353 crore for the fiscal year 2022-23. Sony India aims to boost this figure to Rs 10,000 crore in the near future, driven by strong growth in its premium television segment, along with its audio, imaging, and gaming products.

Nayyar highlighted that Sony’s impressive growth trajectory, which includes a 20% revenue increase in 2023-24, is attributed to the rising affluence of Indian consumers and the company’s focus on premium and high-quality products. He emphasized that Sony’s strategy involves leveraging its advanced technologies across its product lines to cater to a growing market of discerning customers.

With expectations to hit Rs 100 billion in revenue within a couple of years, Sony is confident in its ability to secure a top-three position globally. This growth is further supported by the company’s expanding footprint in India’s premium segments and its continuous innovation in audio, video, and imaging technologies.

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