Sony expects 20 percent growth in India over the next few years, company executives say

Sony Expects 20 Percent Growth in India Over Next Few Years, Company Executive Says

Consumer electronics major Sony India is “quite optimistic” about its audio business in the country and expects growth of over 20 per cent over the next few years, continuing good overall traction from the personal audio and home entertainment product categories, a company official said. Gyanendra Singh, Head of Audio Marketing, Sony India, told PTI that the company is expecting strong festive season sales for the segment this year as it got a boost in the first quarter.

Sony India has seen a surge in demand for personal audio products like earphones and headphones and home entertainment devices like soundbars in the past two years as people shifted to working from home during the pandemic and avoided cinema halls and other places for entertainment. .

Even though offices are partially reopening now, Sony India expects the use of its audio equipment to continue in a hybrid work culture.

The trend of in-home consumption of movies and other content via OTT platforms on large TV screens is expected to continue.

“We are very optimistic about both the short-term and mid-term outlook and expect the audio segment to grow at a rate of upwards of 20 percent in the next few years,” Singh told PTI.

Audio products, which include personal audio devices like earphones and headphones and home entertainment products like soundbars, are a very important component of Sony’s overall business in India, contributing about 15 to 20 percent of its total sales, he added.

“We’re experiencing consumers turning to products that help them work from home, learn through home activities and products that enhance their use of home entertainment.

“We expect this impact to continue organically in the future as awareness grows of the importance and usefulness of high-quality personal audio products in hybrid modules,” he added.

Singh said he was “pleasantly surprised” to see the traction of audio products at both ends of the price spectrum. This growth is secular in nature and is coming not only from developed metro markets but also from smaller tier II and III cities, he added.

Asked about the growth pattern, Singh said demand for high-end products is still metro-centric, with smaller aspirational cities pushing for higher numbers.

With over 75 percent market share in the premium headphones segment (above Rs. 10,000), Sony India will continue to strengthen its position in this segment.

“We will continue to strengthen our position by promoting innovative products with advanced technology. Similarly, in the Truly Wireless series above Rs 10,000, we have doubled our market share compared to last year and we are excited about the future prospects,” he said.

Earlier this month, Sony India introduced LinkBuds, strengthening its presence in the wireless earphones segment. Priced at Rs 19,990, these open-ring design wireless earphones come with several advanced features.


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