India expected to become 3rd largest global market for Sony

New Delhi: Japanese consumer electronics giant Sony expects India to overtake home market and become the company’s third largest market globally in the next couple of years with its revenue from the country reaching Rs 10,000 crore.

Sony India Managing Director Sunil Nayyar said the company clocked a revenue of Rs 6,353 crore in 2022-23 in the country and is betting on the premium television segment besides its audio and imaging products to drive the growth. According to him, Sony India is also betting big on the fast growth of the gaming segment and imaging business. “We have travelled a long way. If I go 10 years back, we were quite behind the globe, but now, we are a close number four as a single country business across the globe, which means in a couple of years, maybe we can be number three and to remain in the top three in future I think should be a good position to stay as a Sony company around the globe,” Nayyar said in an interview.

At present, the US, China and Japan are the top three markets for Sony globally, followed by India. He said Sony’s bullishness over India “has to do with the country’s growth as well”. “We are hopeful about India as a country itself. So within this context, and parameters and with our product portfolio, plus our strategy of making the premium as mantra to the market, we hope that we should be number three quite soon,” Nayyar reiterated.