Sony is targeting India to be its third biggest market for their newly launched smartphone Xperia devices in the country, which currently ranks as fourth overall for the company after China, US and Japan. With the smartphones segment being the fastest growing in the company, sales in India is expected to pull ahead of Japan, the home base of the company.
The current leader of smartphones in India is still Korean brand Samsung, which holds 30% of the market share with Micromax at close second with 25%, followed by Karbon, Apple and Sony which roughly has around 10% of the market. Sony is betting that their new Xperia phones and Play Station will help them regain their foothold in the market and bring back their former stature as one of the most technologically advanced and most coveted electronic devices manufacturer globally . The sales of their compact cameras and laptops plunged due to the introduction of smartphones and tablets in the market. Sony India Managing Director Kenichiro Hibi said, “in the last one year, we gained market share from 4% to 10% in smartphones and now the target is to take it up to 20-25%, which would enable India to become a bigger market for Sony globally.”
India’s top brands in the flat TV category remains to be Samsung and Sony’s Bravia with Sony leading the market for 46-inch LED TVs at a 30% and Samsung closely behind them. However, Samsung is still the market leader in the overall flat TV industry. Other categories such as compact cameras continue to give Sony the edge at more than 50% share of the market. In terms of revenue, the smartphone business of Sony in India is slowly gaining ground on its Bravia TV business, being just 5% behind the TV segment as the Bravia segment composes around 35% of Sony India’s revenue. “We plan to significantly expand our smartphone product portfolio, sales and distribution points and marketing investment next year,” said Hibi. They plan to introduce more than 10 new models of smartphones in India this year, including models which costs less than $160.
[via The Economic Times]