Sony targets 42% share in digital cameras market

Sony targets 42% share in digital cameras market
PTI
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First Published: Wed, Mar 18 2009. 04 29 PM IST
Updated: Wed, Mar 18 2009. 04 29 PM IST
New Delhi: In tune with its plan to capture a 42% share in the domestic digital camera market, consumer electronic major Sony on Wednesday launched a new series of cameras.
“Sony has garnered around 37% share in domestic digital camera market, and with the introduction of new series coupled with our marketing initiatives, we are hopeful of achieving 42% market share in the next fiscal,” Sony India managing director Masaru Tamagawa said here.
The total market for digital cameras in India is estimated at around one million units in 2008 and is expected to grow at a rate of 20% in 2009.
“In order to increase the penetration of our products in Tier II cities, we are also focusing more on placing our products in photo channel and will invest Rs20 crore as marketing expenses in the current year,” he said.
“Standalone photo studios and other such establishments engaged in the business of developing photos could also be helpful in promoting the sale,” Tamagawa said.
Till now, Sony has tied up with 150 such outlets and by the end of current fiscal the number would increase to 250, he added.
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First Published: Wed, Mar 18 2009. 04 29 PM IST