New Delhi: Japanese electronics giant Sony said on 8 October it is in talks with broadcasters in India for developing High Definition television to extend its global leadership in the segment.
Sony, which claims 80% share of the world’s high definition (HD) TV market, is preparing to establish strong presence in India once the government allows HD broadcasting.
“We expect high definition broadcasting in India to start by 2009 and currently Sony is aggressively approaching broadcasting companies for content creation as it has all the equipments required,” said Sony India managing director Masaru Tamagawa.
He, however, did not divulge more details saying talks were confidential and the names of the companies could not be disclosed. “But we are sure about one thing, that no other company other than Sony can change LCD into High Definition,” he added. Sony India is targeting around 26% rise in its sales from Rs2,300 crore in 2006 to Rs2,900 in the current year.
It has also earmarked $35 million for marketing and advertising spend for this year, up from $20 million last year. “Of the $35 million set aside for this year, around $10 million would be spent for Diwali,” Tamagawa said.
Sony launched six new series on 8 October comprising 15 models of LCD TVs for the festive season, aiming 25% share of the LCD market in India and number one position in the large screen segment by the end of this fiscal.
“We are aiming 25% LCD market share this year by selling around four lakh TV sets,” Tamagawa said, adding it expects to sell 30 lakh units of LCD TVs in 2010. The company has slashed prices of its products by 10-15% ahead of Diwali.