News: Sony targets $2 b India top line by 2010

(PTI 26/04/2007) New Delhi - Buoyed by the increased buying power of the Indian consumer, Japanese consumer electronics major Sony today said it is targeting a two-fold jump in consolidated revenues from its operations here to $ 2 billion by 2010. "We crossed $ 1 billion consolidated revenues mark in 2006, and anticipate to nearly double our top-line in India by 2010 to touch the $ 2 billion mark," Maasaru Tamagawa, managing director, Sony India told reporters. He said the $ 1 billion top line includes revenues from its mobile manufacturing and marketing joint venture Sony Ericsson and consumer electronics division Sony India. "The consumer electronics division, Sony India, closed the previous fiscal at Rs 2,300 crore. We are anticipating a 30% increase in our revenues from this division year on year," he said. He said the company is consolidating its operations in the country and is also studying the feasibility of setting up a manufacturing facility."We'll study the best option and are exploring the options of a local production base if its would suit our strategy, but nothing has been finalised as of now." The company's mobile phone joint venture Sony Ericsson operates out of a three million units per annum manufacturing facility at Chennai, while having no manufacturing operations for its remaining products here. Sony India sells a variety of consumer electronic products here, including high definition and plasma TVs, DVD players, mobile phones and gaming consoles among others.