‘Sony India eyes strong festive season, double-digit growth’

Sony India is optimistic about recovery in demand during the second half of the year and is gearing up for a strong festive season despite near-term challenges arising from global economic uncertainty and higher input costs, among others, said its Managing Director Sunil Nayyar on Wednesday. The consumer electronics maker is banking on new product launches, premiumisation trends and rapid growth in its audio business, Nayyar said.

The company expects to maintain double-digit value growth, supported by strong demand for premium televisions, sound systems, gaming products and personal audio devices, despite volumes remaining under pressure due to a cautious consumer spending environment. “We are super excited about the festive season. Most of our new product lineup will be launched in the next couple of months and we expect to be in a very good position to deliver blockbuster sales during Diwali,” he added. “There is pressure on input costs and some uncertainty globally, but we believe the situation should improve in the second half. We are holding strong and expect business conditions to normalise going forward,” he said. On segments such as televisions, the largest contributor to Sony India’s topline, Nayyar said there is “currently some pressure” on the business.