Sony India Eyes Rs 10,000 Crore Milestone with Expansive Growth Strategies
Sony India forecasts crossing a Rs 10,000 crore turnover in two to three years, driven by product line expansions and heightened premiumisation. The company, bolstered by substantial growth in sectors like gaming and medical devices, aims to become Sony's third-largest market globally, leveraging India's favorable economic climate.
- Country:
- India
Sony India is aiming to surpass a turnover of Rs 10,000 crore within the next two to three years through strategic product expansions and premiumisation, as revealed by Managing Director Sunil Nayyar. With India's fourth-largest global market transitioning into a flourishing landscape, the company is optimistic about its growth trajectory.
The expansion isn't limited to Sony's staple audiovisual offerings. The gaming division, particularly PlayStation, has seen a fourfold increase, while the imaging and medical sectors, notably devices like 4K surgical monitors, are also driving progress. Nayyar highlighted that these emergent categories are pivotal to the company's future growth strategy.
In financial year ending March 2024, Sony India reported a 20.6% revenue increase, amounting to Rs 7,663.74 crore, supported by favorable economic and financial conditions. With India positioned just behind the US, China, and Japan as key markets, Sony India eyes becoming the third-largest globally, despite previous setbacks like the exits from Viao and mobile ventures.
(With inputs from agencies.)
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