New Delhi: In contrast to its loss making Japanese parent, Sony India on Tuesday said it is registering “healthy profit" and even plans to increase its headcount by 500 people in the current financial year.

“The situation in India is different from the other global markets, where Sony is witnessing pressure. We are having strong growth and healthy profits," Sony India managing director Masaru Tamagawa told reporters here.

Managing director Sony India, Masaru Tamagawa, along with models at the launch of new range of Cybershot cameras in New Delhi . PTI

“Considering both permanent and contract workers, we are at present employing a total of 3,300 people in India. This number will go up to 3,800 by March, 2013," Tamagawa said.

This is contrary to the parent, Sony Corporation reported to have decided to cut 10,000 jobs, probably by the end of this year to reduce loss.

In February this year, the Japanese electronics goods major had forecast a consolidated net loss of ¥220 billion for the financial year ending 31 March 2012.

“Currently the Indian market is contributing 5% of the global revenue and it may rise up to 6% in the next one year. Sony India had a revenue of 5,400 crore in 2010-11," Tamagawa said, adding the company will announce the results for FY’12 in the next few weeks.

He said the Indian operations is the fifth largest for Sony globally after Japan, the US, China and Brazil.

“We are closer to Brazil than the other three markets, which are very large. In the next two years, we may overtake the Brazilian market," he added.

Sony India’s growth is primarily led by three divisions -- Bravia range of televisions, Vaio branded computers and digital imaging products like Cyber-shot cameras.

In order to push its growth further, Sony India on Tuesday launched a series of 34 new digital cameras in the country, priced between 5,490 and 27,990.

“With 45% growth last fiscal, we outperformed the digital camera market’s rate of 40%. We are targetting to increase our share in the market to 45% in this fiscal from 42% in last fiscal," Tamagawa said.

According to Sony India, the digital still camera market in the country stood at 33 lakh units in FY’12 and is expected to increase to 42 lakh units by 2012-13.

The company is aiming to sell 14 lakh units of these cameras in FY’13 compared to last fiscal’s 11 lakh units.

Tamagawa said the company will invest 50 crore in its marketing strategy and different brand promotional activities.

Besides, the company plans to increase its sales points to 3,000 outlets by the end of this financial year from 2,500 in FY’12, he added.

In contrast to the growth in its Indian operations, Sony Corporation is bleeding at its home market and other developed nations like the US.

For the third quarter ended 31 December 2011, Sony Corp’s net loss stood at ¥159 billion compared to a net income of ¥72.3 billion in the year-ago period.

The company’s sales and operating revenue also declined by 17.37% to ¥1.82 trillion from ¥2.21 trillion in the third quarter ended 31 December 2010.

The decrease in consolidated sales was attributed to the impact of the devastating flood in Thailand, unfavourable market conditions in developed nations and adverse foreign exchange rates.

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