Sony India expects 25% sales growth during festive season

Sales Head Satish Padmanabhan said they would make Rs 500 cr investment in marketing

Electronics giant Sony India is looking at a 25 per cent growth in sales across all categories in this year's festive season and is expecting over 20 per cent growth in the current fiscal, company officials said on Thursday.

"This year, we are trying to make over 20 per cent growth in sales and in the festive season, we are looking bigger than 20 per cent," company's Managing Director Kenichiro Hibi said here.

Elaborating on this, Sales Head Satish Padmanabhan said: "The company is expecting 25 per cent growth in sales across categories during this festive season in India."

Hibi also said the company would be making a Rs 500 crore investment in marketing for the current fiscal.

On the impact of Goods and Services Tax (GST), he said it was positive for the company and it is not raising prices of its products post its implementation. However, it is "studying the gain or loss" under the new tax system, he said.

Hibi said the company is studying the possibility of setting up its "own" manufacturing plant in India and it has started local manufacturing of TV.

This festive season, the company aims to achieve Rs 250 crore sales from August till November 2017 in the West Bengal region, Padmanabhan said, adding that on the back of its newly launched Bravia Oled TV and doubling of 4K TV line-up, the company plans sales of one lakh units across the state during the festive season.