KOLKATA: India is becoming an increasing priority for Sony, with the electronics firm planning to derive 10% of its business from the subcontinent by 2017.
Speaking to the Economic Times, Tadato Kimura, general manager at Sony India, said that selling high-end products in urban areas would be a key part of the company's growth plan.
If the 10% target is achieved, India would become one of Sony's top five global markets. The Asian nation already accounts for 5% of the firm's sales, with TVs, cameras and laptop computers proving particularly popular.
While Sony does not currently own any manufacturing plants on the subcontinent, Kimura suggested that such a move might make business sense in future if the rupee weakens further or import duties rise.
He added: "India's contribution [to the company's total sales] should be much, much higher."
The announcement of Sony's Indian expansion plans follow comments earlier this month from new CEO Kazuo Hirai that the firm will concentrate on its "DNA" of four core competencies to drive global growth in future.
Hirai said he hoped to enhance managerial decision-making, pursue "selective" long term investments, introduce innovative products and reverse eight years of losses for Sony's TV unit.
In February, Hirai also stated that the company planned to "revitalise" its product portfolio for electronics products, including innovations in TVs and mobile phones.
Data sourced from Economic Times/Warc; additional content by Warc staff