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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.