Sony India logs triple digit growth in camera biz in 1 year
New Delhi: Tokyo-headquartered Sony, which completed 25 years in India this month, has registered triple-digit growth in its camera business in the country in just one year and has registered huge growth in the mirrorless camera segment, a top company executive said on Friday.
Sony began its India operations in 1994 and currently, its premium products including the BRAVIA TVs, digital imaging, personal audio and home audio in the country contribute about 25 percent to its total revenue.
According to Sunil Nayyar, Managing Director, Sony India, the company aims to increase the country share to 40 percent in the next couple of years.
“For us, cameras have done remarkably well (including both body and lenses). We’ve registered a triple-digit growth in India market in the past one year. Initially, we were ruling the digital single-lens reflex (DSLRs) market and now, we are doing tremendously well in the mirrorless camera segment,” Nayyar told IANS.
India is an important market for the company that contributes to the fourth highest contribution to its global sales numbers.
“We are the No 1 player in the full-frame mirrorless industry in the country. We command a dominant share and we drive this category in India, along with the lenses,” Nayyar added.
Earlier in May, Sony Mobile exited the India market to focus on other regions. However, the firm’s focus in the country continues to be on expanding its camera, audio and TV business.
Asked if the company had to change its go-to-market strategy along with changing needs of consumers, Nayyar said: “Definitely. Our product strategy has changed that includes all the channels. We were earlier selling differently and now we sell across channels. We have also changed the retail experience for consumers now”.
According to Sony India, it currently has a market share of 60-70 percent in the overall audio segment. When it comes to noise-canceling headphones, it has a 30 percent market share; for Bluetooth speakers, it holds a 30 percent share and for the home theatre segment, it commands a massive 80 percent share.
“Thanks to the active noise cancellation (ANC) devices, especially the premium headphones and in-ear active headphones, we’ve grown almost triple-digit here too,” noted Nayyar.
Sony India is also committed to the government’s ‘Make in India’ program and plans to increase local manufacturing projects for its TV category.
“Within a span of four years, more than 95 percent of BRAVIA televisions are being locally manufactured in India at Sriperumbudur, Tamil Nadu,” informed Nayyar.
The company has also decided to launch its first-ever research and development (R&D) center in Bengaluru in 2020 to tap into the vast pool of talent.