How Sony India is aiming for 40% growth in its audio business segment

 

Sony India, a subsidiary of the Japanese electronics giant Sony Corporation, is aiming to achieve a 40% growth in revenue in its audio business segment in the current fiscal year. The company is banking on the increasing demand for premium and wireless audio products, such as headphones, earbuds, soundbars, and speakers, among Indian consumers. Sony India is also planning to expand its product portfolio and distribution network, as well as invest in marketing and promotion activities, to boost its sales and market share.

According to Sunil Nayyar, Managing Director of Sony India, the audio segment contributes about 15% to the company’s overall revenue in India. He said that the company expects to grow its audio business by 40% in the fiscal year 2021-22, compared to the previous year. He added that the company has seen a strong recovery in demand for audio products after the lockdowns eased in the country. He also said that the company has witnessed a shift in consumer preference towards premium and wireless audio products, especially among the young and tech-savvy customers.

Sony India offers a wide range of audio products in India, catering to different segments and price points. Some of its popular products include the WH-1000XM4 wireless noise-canceling headphones, the WF-1000XM3 wireless noise-canceling earbuds, the HT-G700 soundbar with Dolby Atmos, and the SRS-XB43 wireless speaker with extra bass. The company also plans to launch new products in the coming months, such as the WF-1000XM4 wireless noise-canceling earbuds and the HT-A9 home theater system with 360 Reality Audio.

To increase its reach and visibility, Sony India is also expanding its distribution network across online and offline channels. The company has partnered with e-commerce platforms such as Amazon and Flipkart, as well as offline retailers such as Croma and Reliance Digital, to sell its audio products. The company also has its own exclusive Sony Centers and Sony Authorized Dealers across the country. In addition, the company is investing in marketing and promotion activities, such as digital campaigns, influencer collaborations, and experiential events, to showcase its audio products and create brand awareness.

Sony India is confident that its audio business will continue to grow and perform well in the Indian market. The company believes that its innovative and high-quality products, coupled with its strong brand equity and customer loyalty, will help it achieve its growth targets and maintain its leadership position in the audio segment. Sony India is also optimistic about the overall growth potential of the Indian electronics market, which is expected to reach $400 billion by 2025. The company aims to leverage its diverse strengths and create new value for its customers and stakeholders in India.