The Telegraph
Since 1st March, 1999
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Sony India targets 25% rise in income

Calcutta, Sept. 6: Sony India Pvt Ltd — a 100 per cent subsidiary of Sony Corporation, Japan — aims to post a 25 per cent growth in income this year. Sony India expects its turnover to increase to Rs 750 crore in 2002-03 from around Rs 600 crore last year.

Teruo Ishii, managing director of Sony India, said sales in the first quarter of the year were buoyant thanks to the World Cup soccer, and the company had already achieved about 40 per cent of its target for the full year.

“Sales in the second and third quarters are going to be dull, but should significantly recover in the fourth quarter thanks to the cricket events,” Ishii added.

Colour television (CTV) sales will be the key driver of income growth envisaged this year. “CTV sales should jump from 1.7 lakh to 2.5 lakh this year,” Ishii said. CTV sales account for about 60 per cent of the company’s revenues.

Sony set up operations in India in 1995. It has a production facility in Dharuhera, Haryana, which has an installed capacity of two lakh audio equipment and three lakh CTVs.

Ishii said there was no immediate need to expand the production facility, and hence there was no need for further investment on it.

“But Sony India would continue to invest on brand-building. We will be spending 5 per cent of our targeted turnover this year, or Rs 35-40 crore, on our brand this year,” Ishii said.

Alongside, Sony will also host exhibitions across the country to showcase its products. Called Sony Vision, such an exhibition is being held in the city now.

In addition to these, Ishii said Sony would continue to launch new products and variants, many of them fully imported, to increase its presence in the market.

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