Sony India eyes 54% sales growth to 5700 cr this fiscal

Sony India eyes 54% sales growth to 5700 cr this fiscal

New Delhi: Consumer electronics giant Sony India on Monday said it expects to witness a 54% jump in sales to 5,700 crore this fiscal on the back of its enhanced distribution network, aggressive marketing campaign and newly launched products.

The company said it clocked sales worth 2,600 crore in the first half of the 2010-11 financial year, a 46% increase compared to the same period last fiscal.

“Sony aims to clock a turnover of 5,700 crore this financial year, which would be a 54% increase over the last fiscal," the company said in a statement. Sony India had reported sales worth 3,700 crore last fiscal.

The key strategic pillars of growth include sales channel expansion, service operation enhancement, aggressive brand promotion and introduction of an innovative product line-up, it said.

The company said a major chunk of its overall sales revenue during the first six months of the current fiscal came from its ‘Bravia´ range of televisions and ‘Vaio´ computers and laptops. It also witnessed a 54% surge in sales during the festive season this year vis-a-vis the year-ago period.

“All key categories of Sony have achieved very aggressive growth figures, with ‘Bravia´ registering 65% growth from corresponding period last year, ‘Vaio´ growing by 160% and digital imaging (‘Cyber-shot´ and ‘Handycam´) by 20%," the firm said.

It also attributed the robust growth to expansion of its distribution network to 4,000 channels in the first half of FY’11, compared to 3,000 at the end of the previous financial year.

“India is amongst the top 10 priority markets for Sony and we eagerly look forward to expand our operations here... We aim to attain No 1 position in terms of market share, brand value and customer satisfaction in the Indian market," Sony India managing director Masaru Tamagawa said.

Sony also undertook an aggressive advertising campaign this year, which featured Bollywood superstar Kareena Kapoor in its ‘Go Vivid´ campaign to promote the Vaio range of laptops and computers and Deepika Padukone for the ‘Superzoom´ campaign promoting its Cyber-shot range of digital cameras.