The electronics giant intends to double the sales of its flat-panel display televisions in the current year. Sony is going to double its investment in promotions to Rs1,470 crore
Consumer electronics major Sony India on Tuesday said that it would invest up to Rs1,800 crore in the next one year on marketing and promotional activities to create awareness about its products in the country, reports PTI.
"We intend to double the sales of flat-panel display televisions in India in the current year, and to achieve that we are also going to double the investment in promotions to Rs1,470 crore," Sony India managing director Masaru Tamagawa told reporters.
He said that the company has invested over Rs700 crore in promoting its 'Bravia' range of flat-panel display TVs, which contribute more than one-third of its total turnover of Rs3,500 crore in India.
Besides, the company is also increasing its investment of Rs200 crore on promotions of other products in the country by 25% in the current year, Mr Tamagawa said.
"We are targeting a 30% market share in the current year in the segment. The total market for LCDs in the country is around 1.6 million units which is expected to grow up to 2.7 million units by the end of the current financial year," Mr Tamagawa said.
The company also announced that it is going to double its dealer network to 5,000 from 2,500.
Sony today announced the launch of 24 new models in NX, EXm and BX series under the Bravia umbrella of varying screen sizes between 22 and 60 inches.
The company said that its new range of TVs are also compatible with the Internet and Sony has exclusive tie-ups with some content providers such as YouTube to provide videos and clips for its Bravia range of TVs.
"Going forward, we are also going to launch 3D TVs in India for which the announcement would be made in the month of June 2010," Mr Tamagawa said.
He said that Sony is also the official sponsor of the FIFA World Cup 2010 and will broadcast some of the matches in the 3D format in India.
Separately, Sony India's parent, Japanese Sony Corp said that it will launch 3D televisions in June and expects the 3D TV to form about 10% of the total LCD market across the world, media reports said.
Google is testing a new TV programming search service with Dish Network, a move that would allow users to find content from the television and the Web
Internet search engine giant Google is testing a new TV-programming search service with satellite television operator Dish Network Corp, a move that would allow users to find content from television and the Web, reports PTI.
Attributing the developments to people familiar with the matter, The Wall Street Journal reported that Google is testing a new TV programming search service with Dish Network Corp.
The report said that the service, which runs on TV set-top boxes containing Google software, allows users to find shows on the satellite TV service as well as video from websites like Google's YouTube.
It will also allow users to personalise the line-up of shows.
With this, Google moves deeper into a crowded field of companies, large and small, that have been trying for years to marry the Web and TV and their business models—from rivals Microsoft Corp and Apple Inc to the makers of TVs and set-top boxes.
According to the publication, both companies declined to comment on the plan.
In addition to the test with Dish, Google has been talking to a range of other television service providers and hardware makers, prodding them to use its Android-based technologies to offer a broader range of programming, a more personal experience and varied advertising models, it added.
After IOC turned down an offer to partner in the proposed Barmer refinery in Rajasthan due to financial constraints, the state government is consulting ONGC about the feasibility of the project
Indian Oil Corp (IOC) has turned down an offer to partner in the proposed Barmer refinery in Rajasthan due to financial constraints, minister of state for petroleum and natural gas Jitin Prasada said on Tuesday, reports PTI.
State-owned Oil and Natural Gas Corp (ONGC) is in consultations with the Rajasthan government on the feasibility of the refinery, he said in a written reply to a question in the Rajya Sabha.
"IOC has regretted its participation as equity partner in the proposed Barmer refinery due to the financial constraints faced by the corporation," he said.
Originally proposed in 2004-05, the project was declared economically unviable after the previous Vasundhara Raje government in Rajasthan did not agree to give fiscal incentives like an interest-free loan and sales-tax exemption for the products to be produced at the 15 million tonnes a year unit.
After Rajasthan chief minister Ashok Gehlot renewed the demand of setting up of the refinery project in the state last year, ONGC decided to do a feasibility study again considering the fiscal concession that the state government was willing to extend to the project.
"The government of Rajasthan has not yet firmed up its nature of assistance for establishing (the) refinery in Barmer," Mr Prasada said.
The refinery was proposed to turn the crude oil produced by Cairn India from its Barmer fields into products. However, considering the fact that the peak oil production from Cairn's Barmer field, where ONGC has 30% stake, was only 8.75 million tonnes, which may last a maximum of seven years, the refinery was considered unviable.
Also, the economic scenario had undergone a sea-change since the project was first proposed with fuel demand expanding at a slower pace. India already has surplus refining capacity, meaning more fuel is produced that can be consumed in the country, that makes a new refinery addition unviable.