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Sony India targets ₹10,000 crore revenue in 3 years, led by audio
'The contribution of the audio segment is growing by a couple of percentage points each year. In the coming year, we expect to clock double-digit growth and reach overall revenues of ₹10,000 crore in the midterm,' said Sunil Nayyar, Managing Director, Sony India, at a media roundtable during the launch of two new soundbar models as part of its BRAVIA Theatre home entertainment line.
Audio and imaging will be the two big drivers of growth toward the company's revenue goals, Nayyar said, adding that Sony is also working to create fresh demand in the imaging segment.
'We want to change the culture of clicking photos on the phone, which is how it used to be earlier,' he said.
Audio currently contributes 13–15 per cent to the company's overall revenue, while televisions remain its largest business, accounting for 55–60 per cent. Digital imaging makes up 20–22 per cent, with the remaining revenue coming from products such as the PlayStation.
On the issue of rare earth magnet availability, amid China's trade restrictions, company officials said they are not facing any supply challenges.
Sony India witnessed double-digit growth in the last financial year. In FY23–24, the company recorded revenue of ₹7,664 crore.
Regarding product performance, Nayyar said the TV segment saw growth in the over-55-inch category, while other segments within the category remained stagnant. 'The over-55-inch segment is a big segment and is growing at a high rate,' he noted.
Meanwhile, PlayStation sales have quadrupled in the last three years, signalling a rising gaming culture in India.
Speaking on quick commerce, where Sony made headlines by selling the PS5, Nayyar said the emerging channel is promising.
'The channel, although very new, has shown promise. We saw traction for the PlayStation and are seeing promise in headphones and speakers too. It is a small business currently but can become bigger as we move forward,' he said.
Despite the entry of new players into the Indian market, the company remains focused on maintaining its premium positioning.
'We continue to be a premium brand and are not competing with mass-market price points. We make sure we are reasonably premium, can justify the value proposition to customers, and remain their go-to premium brand,' Nayyar added.
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