Sony's Gaming Success in India: A Premium Play

Sony India sees phenomenal growth in its gaming sector, driven by its PlayStation 5 and software peripherals, marking a 50.1% increase in revenue from 'other business' segments. Despite expecting moderated growth due to a high base, Sony focuses on premium products strategy across various consumer electronics.

India has emerged as a significant market for Sony in the gaming business, thanks to phenomenal growth driven by the PlayStation 5 and its software peripherals, according to Sunil Nayyar, Managing Director of Sony India. The company posted a remarkable 50.1% growth in its gaming segment in FY24.

Sony's PlayStation controls nearly 95% of the console gaming market in India, contributing to a doubling of revenue in FY 2023-24. Despite this success, Sony anticipates moderate growth moving forward due to last year's high base. Nevertheless, Sony plans to continue developing the gaming market, focusing on software and peripherals.

Aside from gaming, Sony is thriving in niche areas like medical equipment and sports technology, particularly with its Hawk-Eye system. Further, Sony India's revenue climbed 15.7% in the Consumer Audio and Visual segment, totaling Rs 6,300.20 crore in FY 2023-24, bolstered by its premiumisation strategy.

(With inputs from agencies.)