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Sony India on Tuesday said it will enhance its marketing spend by 25 per cent to Rs 450 crore in the country this fiscal in order to push sales.
The company said it is targeting a 30 per cent jump in turnover from Rs 6,313 crore posted in last year.
“In 2012-13, Sony plans to pump in an investment of Rs 450 crore on marketing, which will be in sync with the business growth,” said Mr Masaru Tamagawa, Managing Director, Sony India. Sony India had spent Rs 360 crore on marketing in 2011-12 fiscal.
The company said it might look into increasing prices of its products in the second half of the current fiscal, depending upon the exchange rate. “Till end of June we have fixed rate because we have hedging system. From July onwards, we will have to look into it based on the exchange rate at that time,” Mr Tamagawa said.
“Developing local Indian talent is a very crucial element of Sony’s growth story in India. Sony plans to increase its manpower by 500 employees in 2012-13, to match the growing business requirement,” Mr Tamagawa added.
Sony India is also planning to increase the number of its distribution network from 10,400 in 2011—12 to 12,200 in the current fiscal.
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