Sony India eyes 40% share of flat panel TV segment

Sony India eyes 40% share of flat panel TV segment

Mumbai: Sony India, a unit of Japan’s Sony Corp, expects to increase its market share in the flat panel TV segment to 40% from the current 35%, buoyed by the upcoming cricket World Cup, a top official told reporters on Tuesday.

The company expects sales from Bravia, its full high definition television brand in the segment, to double during the World Cup, Masaru Tamagawa, managing director at Sony India, said, adding Bravia currently accounts for about 35% of the firm’s revenue.

“We expect the market size during the World Cup season to be approximately 600,000 unit sales in India, we are targeting 250,000 unit sales," Tamagawa said.

The company competes with the Indian units of Samsung Electronics Co and LG Electronics Inc in the Indian flat panel television segment.

Sony India, which began operations in 1994, said it has planned an investment of Rs100 crore in Bravia during the World Cup.

“So far, this has seen the biggest spending on marketing in India," Tamagawa said. “We are going to invest during the Indian Premier League as well this year."

The cricket World Cup is being co-hosted by India, Sri Lanka and Bangladesh from 19 Feb. to 2 April.