Sony India targets ₹10K crore revenue in 3 years: MD Sunil Nayyar

Consumer electronics maker Sony India is eyeing a top line of ₹10,000 crore in the next two-three years as the share from audio categories continues to rise, a top company executive said on Monday. This comes even as the Indian market continues to be the fourth largest, in revenue terms, for Sony Corp.

 

“The contribution of the audio segment is good and every year we are growing a couple of percentages. Going forward, we expect to clock a double-digit growth and record overall revenues of ₹10,000 crore in the midterm,” Sunil Nayyar, managing director (MD) at Sony India said at a media roundtable during the launch of two new soundbar models in an expansion of its BRAVIA Theatre line of home entertainment products.

 

 

Audio and imaging will be the two big drivers of growth for the company's revenue goals, he said. He added that the company is also working to create demand in the imaging segment.

 

“We want to change the culture of clicking photos on the phone, and take it back to how it used to be earlier,” he said.

 

 

Audio contributes 13-15 per cent to the company’s overall revenue, while TV continues to be its largest revenue generating business with a contribution of 55-60 per cent.

 

Digital imaging makes up 20-22 per cent of the overall revenue, while the remaining comes from products like PlayStation.

 

The company’s executives said they are not facing any issues owing to China’s curbs on rare earth elements.

 

The company witnessed a double-digit growth in the last financial year, while in FY23-24 it had recorded revenue of ₹7,664 crore.

 

Nayyar said the TV space recorded growth in the over 55 inches segment, while others in the category have languished.

 

“The over 55 inch segment is a big segment and is growing at a high rate,” he said.

 

Meanwhile, PlayStation sales, he added, have quadrupled in the last three years, pointing to a growing gaming culture in the country.

 

Talking about quick commerce, where Sony made news by selling the PS5, Nayyar said the channel is showing promise.

 

“The channel, although very new, has shown promise. We saw traction for the PlayStation and are seeing promise in headphones and speakers, too. It is a small business currently, but can become bigger as we move forward,” he added.

 

Despite the entry of new players into the market, the company remains focused on being reasonably premium.

 

“We continue to be a premium brand and are not competing with mass market price points. We make sure we are reasonably premium and can justify the value proposition to customers and remain their go-to premium brand.” Nayyar added.