Sony Bets Big on India: Aiming for Top Three Global Market Spot

Sony anticipates India to outgrow its home market, becoming its third largest global market within a few years. With a revenue target of Rs 10,000 crore, Sony aims to expand its premium television, audio, and imaging product segments. The company cites India's growing economy and rising consumer income as key growth drivers.

Sony, the Japanese consumer electronics giant, is setting its sight on India, expecting it to surpass Japan and become the company's third largest global market within the next few years. The company plans to hit a revenue mark of Rs 10,000 crore, driven by its premium television, audio, and imaging product segments.

Sunil Nayyar, Managing Director of Sony India, revealed that the company achieved a revenue of Rs 6,353 crore in 2022-23 and is optimistic about further growth. 'We have come a long way. Ten years ago, we were behind globally, but now, we stand as the fourth largest single country business. We aim to reach the top three soon,' Nayyar said in an interview with PTI.

Currently, the US, China, and Japan hold the top three spots for Sony globally, with India closely following. Nayyar attributed Sony's bullish outlook on India to the country's economic growth and increasing consumer spending on quality products. The company aims for a 20% growth this year, focusing on new technologies, expanding its gaming and digital imaging businesses, and cementing its leadership in these segments.

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