While conceding that the company was witnessing pressure in the global markets, Sony said it was witnessing strong growth and healthy profits in India and indicated that it would hire nearly 500 people in the current financial year.
New range of cameras
Talking to journalists after the launch of new range of digital cameras here, Sony India Managing Director Masaru Tamagawa said things were different in the Indian markets where Sony was registering a strong and healthy growth. He said the company planned to ramp up its manpower strength in the near future. “Considering both permanent and contract workers, we are at present employing a total of 3,300 people in India. This number will go up to 3,800 by March, 2013,” Mr. Tamagawa added.
This is in contrast to the recent announcement by its parent company Sony Corporation which is learnt to have decided to cut nearly 10,000 jobs to reduce losses. “Currently, the Indian market is contributing 5 per cent of the global revenue and it may rise up to 6 per cent in the next one year. Sony India had a revenue of Rs.5,400 crore in 2010-11,” he said. He said the Indian operations were the fifth largest for Sony globally after Japan, the U.S., China and Brazil. “We are closer to Brazil than the other three markets, which are very large. In the next two years, we may overtake the Brazilian market,” he said. In a bid to push its growth further, Sony India on Tuesday launched a series of 34 new digital cameras in the country, priced between Rs.5,490 and Rs.27,990. “With 45 per cent growth last fiscal, we outperformed the digital camera market's rate of 40 per cent. We are targeting to increase our share to 45 per cent this fiscal from 42 per cent last fiscal,” Mr. Tamagawa said.
According to Sony India, the digital still camera market in the country stood at 33 lakh units in 2011-12 and is expected to increase to 42 lakh units by 2012-13. The company is aiming to sell 14 lakh units of these cameras in 2012-13 as compared to last fiscal's 11 lakh units.