Around half of Sony India sales to come from premium segment in 2 yrs: MD Sunil Nayyar
Presently, Sony India has a market share of around 40 per cent in the premium TV market and 26 per cent in the overall TV market by value. Besides, Sony would continue to offer quality products in the affordable segment, which has become quite competitive now after the entry of several new makers in the last two years.
Consumer electronics major Sony expects its premium offerings to account for around half of its sales in the country in the next couple of years, a top company official said. Sony will continue to enhance its premium line-up in its Bravia TV range, which are 55-inch and above screen sizes, to cater the niche customers and chase more value and strong foothold, Sony India Managing Director Sunil Nayyar said.
Besides, Sony would also continue to have its affordable range to cater the entry-level customers in 32-inch and 40-inch screen size as per its "twin strategy" in the segment.
Sony, which is strengthening its premium image here, would also enhance the domestic manufacturing of the TV units through its local partner. "Our contribution of the premium sales is increasing rapidly. Last year we were around 20 to 25 per cent and this year my wish to grow almost double in the next couple of years," Nayyar said.
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Presently, Sony India has a market share of around 40 per cent in the premium TV market and 26 per cent in the overall TV market by value. Besides, Sony would continue to offer quality products in the affordable segment, which has become quite competitive now after the entry of several new makers in the last two years.
"We duly understand the expansion of the market in that area but Sony is committed to expanding its premium line up and stay with premium strategy," he said adding "we want to strengthen the premium brand image of Sony in India.
Presently, Sony gets around 50 per cent sale of its total TV units (in terms of value) from top eight metro cities and rest comes from tier II & III places.
According to Nayyar, Sony would continue to have its 32 and 40-inch screen size line up and have "strategically priced" products, meant for affordable customers looking for a good price point. "But we would not chase the price points, which are available in the market today of other manufacturers," he added.
Over expansion of Sony' sales network, Nayyar said that it would be based be "organically" based on "strategic necessity" and "natural evolution" of brand stores, power retailers and distributors to increase footprint in the country.
Moreover, Sony which got around 50 per cent of TV units sales manufactured locally here, would continue to expand it. "Substantial portion of our TVs now are made-in-India ... As time goes by, we would further enhance our production and try to make more and more units here than we use to do last year," said Nayyar.
Sony India is manufacturing its Bravia television here in an OEM partnership with CTTI in Sriperumbudur, Tamil Nadu. "Our production in India is increasing and more investments are going on through our third party partner and they are trying to ramp up the production and they are also shifting to higher-end models," he added.
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