Sony India has set its eyes on 33% market share (higher than the national target of 30%) within the fiscal 2010-11 in the LCD TV segment in north.
The company plans to achieve the 33% mark by selling about 50,000 units of Bravia LCD TV in Punjab, Himachal Pradesh, J&K and Chandigarh region. However, the company plans to end the current fiscal with sale of 22,000 units of Bravia LCD TV in a market of nearly 80,000 LCDs capturing a market share of over 25%.
Apprising FE about company’s plans for north, Sunil Nayyar, general manager, sales Sony India said according to estimates, the market size for LCD TVs in the north is likely to swell to 1,50,000 units in FY 2010-11 from the current 80,000 units. “Punjab contributes 6% to the total sales of Bravia LCD TV in the country. Where the market is growing at a rate of about 90%, Sony is witnessing a growth of 125% in the LCD TV segment,” he said. Adding further, “We have earmarked a sum of about Rs 100 million towards various marketing activities in north this year in the LCD TV segment. We also plan to open more exclusive brand outlets here to take the current toll of 22 to 30 within the next fiscal. Moreover, the total number of outlets is expected to go up from the present 160 to 225. We have about nine authorized service centres in north.”
However, the LCD TV segment in India is currently estimated at 16 lakh units and is expected to grow up to 27 lakh units by FY 2010-11. Sony India aims to achieve 30% share in this segment in the next fiscal, up from 25% in the corresponding period last year.
The company plans to increase sales to eight lakh units in FY 2010-2011 up from four lakh units last year. “Nayyar said, “There will be a continued focus to strengthen the brand image this year with an investment of Rs 1,400 million towards various marketing activities that involves print and electronic media, online, outdoor and shop-front.”