Sony: India, a bright spot

India has emerged as a bright spot for the global consumer electronics giant, Sony, which in recent years has struggled to meet or beat challenges from rivals, notably Samsung, in developed markets of US and Europe.

Sony, the Japanese consumer electronics major, finally meets its savior in the form of India as the country’s growing middle class offers a burgeoning market for aspirational products from digital cameras & camcorders to LCD & LED TVs and laptops to gaming consoles. The company, which recently declared its results for 9-month ending December 2010, has said that its sales grew the highest in Asia-Pacific which includes markets of China, Taiwan, India, South Korea and Oceania. 

Sony makes popular brands such as Bravia LCD & LED TVs and Vaio range of laptops. The company, which a few years ago did the unthinkable by opting for a non-Japanese CEO for the first time ever in its history, has, however, so far struggled to beat competition from rivals such as Apple (iPads and iPods) and Samsung (LCD TVs and mobiles) in developed markets such as the US and Europe. 

But the company is reaping rich rewards in emerging markets like India where growing aspirations among Indians, particularly, its middle class, owing to rising income levels and changing lifestyles, have been fuelling demand for latest gadgets from LED TVs to gaming consoles to camcorders, thanks to its strong believe in the country’s growth story and also its strong brand identity which it has been busy building over all these years. According to Masaru Tamagawa, Sony’s Managing Director, Sony enjoys No. 1 market share in flat-panel TVs in India at 34 percent, and digital cameras at 40 percent.

Sony's Financials

Source: Sony


Amy, Chief Editor