The Hindu Business Line : Sony India records 26% growth in Q1

New Delhi, July 11 Sony India on Wednesday reported an increase of 26 per cent in its sales for the first quarter ending June 30, 2007 to Rs 596 crore from Rs 472 crore in the same period last fiscal.

“Our revenue growth continues to validate our strategy. We will continue to consolidate our operations and invest significantly in developing new products and extending our core technologies,” said Mr Masaru Tamagawa, Managing Director, Sony India.

Sony India is the electronics arm of the larger Japan based Sony Corporation, which also includes Sony BMG, Sony Entertainment and Sony Ericsson.

Mr Tamagawa said, “According to our mid-term vision, we intend to make the entire Sony Group into a $2-billion business in India, where Sony India will be around $1 billion, by 2009.”

The company said growth in the consumer electronics segment will be mainly driven by the company’s LCD television Bravia, digital camera Cyber-shot, Handycam digital products and Vaio notebooks. It plans to sell around one lakh LCD sets in the 32 inches category, to corner about 25 per cent market share, by the end of this fiscal.

“We will also invest Rs 150 crore for brand and channel enhancement, besides consolidating operations and focus on penetrating more in the rural market,” said Mr Tamagawa.

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