Sony India Expects 20 Percent Growth Over Next Few Years: Details

Client electronics main Sony India is “fairly optimistic” about its audio enterprise within the nation and expects over 20 p.c development for the subsequent few years, persevering with the general good traction from its vary of private audio and residential leisure merchandise, an organization official stated. The corporate expects “sturdy” festive season gross sales this 12 months for the phase as it’s inspired by the momentum constructed within the first quarter, Gyanendra Singh, Head of Audio Advertising at Sony India instructed PTI.

Sony India had witnessed a surge in demand for each private audio merchandise like earphones and headphones and residential leisure units like soundbars within the final two years when folks shifted to work-from-home mode and averted cinema halls and different locations for leisure amid the pandemic.

Although now workplaces are resuming partly, Sony India expects utilisation of its audio units to proceed amid the hybrid work tradition.

It additionally expects the development of consumption of flicks and different content material at residence by means of OTT platforms on bigger TV screens to remain.

“We’re fairly optimistic about each brief and mid-term outlook and anticipate the audio phase to develop robustly at an upward tempo of 20 p.c within the subsequent few years,” Singh instructed PTI.

Audio merchandise, which embody private audio units like earphones and headphones and residential leisure merchandise like soundbars, are a vital element of Sony’s total enterprise in India, contributing practically 15 to twenty p.c of its total gross sales, he added.

“We’re experiencing that customers are shifting in the direction of merchandise with options which can be useful for his or her work at home, be taught from residence actions and merchandise that improve their consumption of leisure at residence.

“We anticipate this affect to proceed organically sooner or later as effectively on account of elevated consciousness concerning the significance and utility of high-quality private audio merchandise within the hybrid module,” he added.

Singh additionally stated he’s “pleasantly shocked” to see the traction of audio merchandise at each ends of the worth spectrum. The expansion is secular in nature and isn’t solely coming from the developed metro markets however smaller Tier II and III cities as effectively, he added.

Requested concerning the development sample, Singh stated although high-end merchandise’ demand remains to be extra metro-centric, smaller aspirational cities are pushing for extra numbers.

Sony India, which has greater than 75 p.c market share within the premium headphones phase (above Rs 10,000), would proceed to strengthen its place within the phase.

“We’ll proceed to strengthen our place by fuelling progressive merchandise with superior applied sciences. Equally, in Really Wi-fi Sequence above Rs 10,000, we have now doubled our market share over the earlier 12 months and we’re excited concerning the future prospects,” he stated.

Earlier this month, Sony India launched LinkBuds, strengthening its presence within the wi-fi earphones phase. Priced at Rs 19,990, these open-ring design wi-fi earphones include a number of superior options.