Sony targets 42% share in digital cameras market

Wednesday, March 18, 2009 at 9:03 pm

In tune with its plan to capture a 42% share in the domestic digital camera market, consumer electronic major Sony on Wednesday (March 18) launched a new series of cameras. “Sony has garnered around 37% share in domestic digital camera market, and with the introduction of new series coupled with our marketing initiatives, we are hopeful of achieving 42% market share in the next fiscal,” Sony India Managing Director Masaru Tamagawa told reporters in New Delhi.

The total market for digital cameras in India is estimated at around one million units in 2008 and is expected to grow at a rate of 20 per cent in 2009. “In order to increase the penetration of our products in Tier II cities, we are also focusing more on placing our products in photo channel and will invest Rs 20 crore as marketing expenses in the current year,” he said.

“Standalone photo studios and other such establishments engaged in the business of developing photos could also be helpful in promoting the sale,” Tamagawa said. Till now, Sony has tied up with 150 such outlets and by the end of current fiscal the number would increase to 250, he added. When asked about impact of rupee fluctuations, he said, “Depreciation of rupee against dollar has forced the company to increase the prices of its products by 15-20%.”

Sony India announce the expansion of its digital cameras range Cyber-shot with the introduction of 11 new models and is targeting a sale of 500,000 units in the current financial year. Sony India has clocked a turnover of Rs 3,000 crore in the last fiscal and its camera business contributes around 20% to the total turnover.

(With inputs from agencies)

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Sony targets 42% share in digital cameras market

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