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Consumer electronics maker Sony India expects to cross a turnover of Rs 10,000 crore in the next two-three years, helped by an expansion of product line and growing premiumisation, said its Managing Director Sunil Nayyar on Monday. The company is optimistic about the future growth and market potential in India and is working towards achieving this goal through new product launches and market strategies. The company is quite encouraged by not only from the growing contribution of its conventional business of audio and visual products such as TV and sound products but also new categories, which are emerging as victor of growth.
Its gaming business of PlayStation in India has been ‘quadrupled’ in the last three years, he said, adding, similarly its imaging products business where it sells cameras etc. is also doing well. Besides, its medical business, where Sony India offers a wide range of medical devices to capture and view medical images, from cameras to 4K surgical monitors and documentation tools like recorders, is showing a lot of promise as well.
“So our wish list is a Rs 10,000 crore company in the next couple of years, or maybe two, three years as and we are, this is certainly not an arranged plan,” Nayyar told PTI. Sony India has reported an increase of 20.6 per cent in its revenue from operations to Rs 7,663.74 crore in the financial year ended March 2024. “Markets are growing in the country, and consumers are becoming more affluent. India is shaping up very well right now. So, as I said, kind of existing macro, you know, climate is a little bit, you know, predictable,” he said.
When asked about the growth in FY25, Nayyar said: “We ended up maybe a shy of double-digit numbers last year. But this year, with all that is happening, the product launches and everything, I think we should deliver good work.” Nayyar is quite hopeful of a double-digit growth going forward in FY26, led by a good macro-economic condition, attractive finance schemes supporting the consumer and the right kind of channels.
“We have just started the journey for this year, for only three months gone. We are very hopeful, the coming festival season is good, starting from August onwards, and hopefully the macroeconomic climate also becomes better,” he added. India is currently the fourth largest market for Sony globally, just behind US, China and the company’s home market Japan. Nayyar expects Sony India to become third-largest market of Sony globally. Asked about the time frame, he said, “yeah, we are on course.”
Sony India was witnessing a fall in revenue after its parent firm exited from the business of Viao laptop and mobile handset. At its peak, Sony India’s revenue was over Rs 11,000 crore in FY15. At present, Sony manufactures its television in India in an OEM partnership with Sriperumbudur, Tamil Nadu-based Competition Team Technology. About the setting up a manufacturing plant in India, Nayyar said hopefully, in future, it should be doing more in terms of this approach.
