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Sony India optimistic on audio enterprise; expects over 20 pc growth for next few years : The Tribune India



New Delhi, August 19

Consumer electronics main Sony India is “quite optimistic” about its audio enterprise within the nation and expects over 20 per cent growth for the next few years, persevering with the general good traction from its vary of private audio and residential leisure merchandise, an organization official mentioned.

The firm expects “robust” festive season gross sales this yr for the phase as it’s inspired by the momentum constructed within the first quarter, in keeping with Gyanendra Singh, Head – Audio Marketing at Sony India.

Sony India had witnessed a surge in demand for each private audio merchandise like earphones and headphones and residential leisure gadgets 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.

Though now places of work are resuming partly, Sony India expects utilisation of its audio gadgets to proceed amid the hybrid work tradition.

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

“We are quite optimistic about both short and mid-term outlook and expect the audio segment to grow robustly at an upward pace of 20 per cent in the next few years,” Singh advised PTI.

Audio merchandise, which embrace private audio gadgets like earphones and headphones and residential leisure merchandise like soundbars, are an important part of Sony’s general enterprise in India, contributing practically 15 to 20 per cent of its general gross sales, he added.

“We are experiencing that consumers are moving towards products with features that are helpful for their work from home, learn from home activities and products that enhance their consumption of entertainment at home.

“We expect this influence to continue organically in the future as well due to increased awareness about the importance and utility of high-quality personal audio products in the hybrid module,” he added.

Singh additionally mentioned he’s “pleasantly surprised” to see the traction of audio merchandise at each ends—the premium facet and likewise the entry-level choices.

The growth is secular in nature and isn’t solely coming from the developed metro markets however smaller tier II and III cities as properly, he added.

Asked in regards to the growth sample, Singh mentioned although high-end merchandise’ demand continues to be extra metro-centric, smaller aspirational cities are pushing for extra numbers.

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

“We will continue to strengthen our position by fuelling innovative products with advanced technologies. Similarly, in Truly Wireless Series above Rs 10,000, we have doubled our market share over the previous year and we are excited about the future prospects,” he mentioned.

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.


Source: www.tribuneindia.com

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