India to overtake Japan to become 3rd largest global market: Sony MD

Sony India is positioned to transcend its domestic market and emerge as the third-largest global market for the esteemed electronics conglomerate, with a revenue target of Rs. 10,000 crore (US$ 1.2 billion) in the forthcoming years. The Managing Director of Sony India Mr. Sunil Nayyar, underscores the company's strategic emphasis on the premium television segment, audio products, imaging solutions, and the burgeoning gaming sector as pivotal drivers of growth, reflecting a positive outlook on India's economic trajectory.

The Director's unwavering optimism is rooted in India's evolution as a significant market for Sony's premium offerings post-COVID, seamlessly aligning with the country's expanding economy. Sony India has demonstrated a consistent growth trajectory, registering an impressive 20% increase in the fiscal year 2023-24, with a similar growth target set for the current year. This growth momentum is fueled by the company's steadfast commitment to introducing cutting-edge technologies in the audio, video, imaging, and gaming sectors, where Sony India now holds a leadership position. Despite encountering revenue challenges subsequent to the exit from the Vaio business, Sony India is on a trajectory of resurgence, leveraging its distinguished reputation for quality products and innovative solutions to cater to the evolving needs and discerning preferences of Indian consumers.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.