Audio and digital imaging products contribution has gone up from 10 per cent to 15 per cent each respectively in India
Sony India has reduced its high dependence on television business, creating new drivers of growth in audio products and digital imaging. Sunil Nayyar, company’s managing director told that the television business used to contribute 70 per cent to 75 per cent of total revenue even couple of years back.
Now, the revenue comes down to around 60 per cent to 65 per cent. He also mentioned that the audio and digital imaging products contribution has gone up from 10 per cent to 15 per cent. With reducing dependency on television business, it is expected that this will help Sony India to grow overall revenue.
Sony India plans to boost revenue generation
The company was struggling to create new growth drivers in India after the shrunk of smartphone and moving out from the laptop business. These were once the high-performing businesses in India. Sony India’s revenue was Rs 7181.84 crore in 2016-17 as compared to Rs 8073.33 crore the year before as per the company’s regulatory disclosure in India. It had posted peak revenue of Rs 11,010.3 crore in 2014-15. Sony India is yet to file its 2017-18 revenue to the Indian regulator.
Moreover, 55-inches and above television already accounts for 20 per cent of its overall television sales as compared to five per cent, two years back. In digital imaging, premium camera accounts for over half of total sales. Sony India is targeting 27 per cent television sales growth in West Bengal to achieve Rs 300 crore revenue from the Durga Puja festival. The period of festivals from Durga Puja to Diwali can prove to be crucial for the industry accounting for almost 40 per cent of their annual sales.
Nayyar also mentioned that West Bengal is one of the fastest growing markets for the Japanese consumer electronics maker with high growth earlier this year due to Fifa World Cup. Sony announced a plethora of consumer promotions for Durga Puja.