The Hindu : Sony India's plans

Online edition of India's National Newspaper
Sunday, Sep 29, 2002

Business

Business

Sony India's plans

By Our Special Correspondent

HYDERABAD SEPT. 28. Sony India, which started Indian operations in 1995, has chalked out an aggressive multi-pronged strategy with a targeted turnover of Rs.750 crores for March 2003 against Rs. 600 crores last year, despite continuing to cater to high-end CTV and Mini Hifi's markets, according to Teruo Ishii, Managing Director.

Addressing a press conference here on Friday, he also announced the launch of Micro Vault, a unique USB storage media for computer usage. It is available in four models with capacities of 16 MB to 128 MB. This product was launched outside India very recently, and is made in Taiwan now, but would also be manufactured in Malaysia from next month, he said. Sony expects sales of Micro Vaults of at least Rs. 2 crores in the Indian market this year.

Mr. Ishii said Sony phased out curved CTVs from April, and would be focussing on Wega flat CTVs. It will introduce four new models in the large screen segment and one 21 inch model during the festival season.

He said 75 per cent of turnover was from CTVs and hifis, and the rest from imported items such as DVDs, home theatres, handycam and digital cameras. Though its market share was 4-5 per cent in CTV, in value terms it was 7-8 per cent, he said, as it catered to the high-end segment.

It is now conducting `Sony Vision exhibitions' across the country. Its Sony World outlets, which account for 10-12 per cent of its turnover, would go up to about 35 by this year-end from 25, he said.

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