Consumer electronics major Sony India said it is eyeing 30 per cent year-on-year growth for the next two years on the back of a new growth strategy in niche categories.
Currently, almost 60 per cent of Sony's business comes from the new categories such as digital camera, handycam and laptop.
The company expects to achieve a turnover of Rs 4,000 crore this financial year, up 30 per cent from Rs 3,000 crore last year, on the back of a low-volume and high-value growth strategy in the new categories.
"We are targeting the niche market where volume sales do not dominate. We see LCD television market growing exponentially, especially in the metro cities," said Sunil Nayyar, general manager (sales), Sony India.
Sony, which enjoys 50 per cent of the global handycam market, aims to sell over 3,00,000 units this year in India. The company claims that it has cornered two-third of the handycam segment. In digital cameras, the company claims to have a 30 per cent share. The market size for digital cameras in India is currently estimated at 10,00,000 units.
The company is also redoing its Sony World stores in terms of layout, look and feel, in sync with changing consumer preferences. Currently, the company has 260 brand shops in India. "We are developing the quality of service and experience at our brand shops. This is important as the focus is shifting from analog products to digital products and so with it the particular structure of the stores and the layouts should also change," Nayyar told reporters here. The new-look stores are expected to be completed in another year.
"We also expect sales to treble this festive season with sale of televisions, LCDs, music systems and digital cameras dominating," Nayyar informed.