Under the umbrella of Indian government “Make in India” initiative and Digital India Campaign the world most recognized electronics brand name Sony the Japanese electronics major Aiming to re-enter in Indian smartphone cluster through high make in India campaign. Sony India will locally manufacture the phone and for this seeking partnership with world-leading contract electronics manufacturer Foxconn.
As is well known that the most popular smartphone segment in India is RS 12,000-15,000. So, this is the fastest growing segment in an industry that needs to focus on if anyone wants to capture the Indian market.
According to Mr. Kenichiro Hibi, managing director, Sony India, Customer exceeding the huge demand in mid segments, we would like to leverage this demand with the launch of our mid-segment smartphones, exclusively India marketplace.
The also said that Sony India is always committed to support India’s championed initiative like Digital India and make in India initiatives,
According to the market experts in the Indian smartphone segments company had far presence due to tough competition players like Samsung, Xiaomi, Oppo, Vivo, Lenovo, and others,
The leading contract electronics manufacturers such as Foxconn and Flextronics have already set up base in India, to graving the business opportunities as India is the of the world’s fastest-growing smartphone market in the world
Kenichiro Hibi, managing director of Sony India said that Company has already started the production of television and various Media Products with local business partners in India. The local manufacturing restarted in the country after a decade.
In China, Japan and Malaysia Sony having its own manufacturing units to cater to global production requirements. Sony has a center Software development in India and providing employment for 1500 peoples.
Sony India Managing Director Kenichiro Hibi, also Added that Sony India has continually been devoted to India marketplace and cares about the country’s path such as Make in India initiatives and Digital India initiatives. Explaining the reason Sony trusts that local manufacturing will be highly effective for them, further said, “Local manufacturing will help Sony India to be more viable, lower costs and allow quicker lesser time to launch latest models.
The electronics gaint Sony India is targeting for a 30% sales increase during the festive months of Aug-Nov in the in India this year Sony India budgeting 150 inr crore push in advertisement and campaign.
According to the consumer market survey, it was found that for corporations like Sony and LG, which have much higher existence in the consumer electronics sections such as audio systems, refrigerators, and televisions, it becomes more difficult the way to come back in market share would be ample tougher. In 2004 Sony India had Stopped local production due to as a comparatively-lesser business scope in India and unable to justify management to continuing production the facility and the company look more beneficial to import from its overseas Factories, particularly in an understanding of India’s free-trade contracts with such countries.
The SONY Brava TVs is the highest contributing category among all products of Sony India. The company recorded revenues of Rs 10,600 crore in India, and nearly 40 percent came from televisions sale. Recently, Sony launched six Android-powered Bravia TVs in India, with prices starting from Rs 69,900.
The Organization moreover focusing to achieve 20% development in this Financial year despite the GST imposed by the Indian government. The organization additionally looking at on 25% Sale development in this period.
Sony joins a growing list of companies that want to take advantage of the government’s ‘Make in India’ initiative and set up manufacturing here. Xiaomi and leading American brand InFocus have recently tied up with Foxconn to make their smartphones in India. Microsoft too is stated to have approached Foxconn to manufacture its Lumia smartphones locally in the country. Other companies like Motorola, Asus, Huawei, Gioenee, and Oppo too have publicized a similar interest.
Foxconn has already had a huge capacity and to meet Indian market increasing demand continually expanding their operations in Chennai and seeking more business partner with numerous global investors to locally manufacture their products after the increased of basic import duty on completely assembled electronics products. However, the company is also observing as India as an electronic manufacturing hub for exporting the products worldwide.