India a very significant market: Sony India head

India a very significant market: Sony India head
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First Published: Tue, Nov 03 2009. 11 02 PM IST
Updated: Tue, Nov 03 2009. 11 02 PM IST
New Delhi. Unlike the parent company which is in the red due to global financial crisis, Sony India Pvt Ltd is making profits in India and expects to grow at 20 % rate during the current fiscal. Stating that the Indian operations were ‘very profitable’, Masaru Tamagawa, managing directer, Sony India on Tuesday said the country has become one of the very significant markets for Sony Corp. and significant investments are being made here.
“We are very profitable in India and investing that money here to expand and not sending it to Japan. We expect to touch a turnover of Rs3,600 during the current fiscal,” Tamagawa said.
Battered by the global slowdown and sliding prices of gadgets Tokyo-based Sony Corp. on 30 October reported 26.3 billion yen loss ($289 million) for the July-September quarter.
He said investments were being made in India in marketing and communication for stronger brand building and increasing manpower. ”For the current fiscal, we will invest Rs200 crore in marketing across product categories and will also hire more people,” Tamagawa said without giving details of the investment planned for the Indian entity this year. India currently contributes a single digit to global turnover but is among one of the top ten markets.
The company today announced Bollywood actor Kareena Kapoor, its first celebrity endorsement in India for the newly unvieled ultra slim Vaio laptops.
Driven by the launch, Sony expects to register a market share of 20 % by 2010 in the notebook segment, up from the current share of about 8 %.
”The total markets for notebooks is expected to touch nine lakh units by 2010, of which we plan to garner 20 % share. New products launches, investment in marketing and expansion in distribution will help us reach the target,” he added.
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First Published: Tue, Nov 03 2009. 11 02 PM IST