Sony to unveil low-price CTVs

Consumer electronics major Sony India is chalking out an aggressive pricing strategy for its colour televisions (CTVs) and audio systems to capture a bigger chunk of the market.

At a dealers' meet held this week, top executives from the parent firm Sony Corporation, including the chief marketing officer Fujio Nishida, and the managing director of Asia-Pacific region Haruyasu Nagata, showcased the company's new products bearing significantly lower price-tags, which will be launched in the Indian market later in the year.

Sony, which entered the country in 1995 before the current market leaders like LG and Samsung, has a marketshare of just three per cent in CTVs.

According to a company executive, the new pricing initiative comes on the back of Sony Corporation identifying India as one of the high growth markets.

"Sony India will continue to work closely with it trade partners to expand the local market and offer its customers a wider range of products at affordable prices," he said.

The company, in February this year, had dropped the price of its 21-inch flat TVs nearly 15 per cent to Rs 12,500. Sony India said that it recorded a 20 per growth in sales in 2003-04 and is looking to expand its dealer and service network in the country significantly.

According to the Sony India spokesperson, the company, in collaboration with other group divisions like Sony Ericsson, Sony Pictures Entertainment, Sony Entertainment TV and Sony Music Entertainment, will try and provide greater value additions to customers, to take on competition.

"This is in line with our aim to be a total broadband entertainment company by converging both hardware and content businesses together," he said.

Sony is also planning to launch its VAIO range of PCs in the next few months to position itself as a high-tech lifestyle products company.