Japanese electronics major Sony has decided to ramp up its marketing spend by 30% this year to Rs 450 crore as competition gets shriller and has also projected a similar jump in sales from here.
"Our total marketing spend for this year will be Rs 450 crore, up from Rs 350 crore last year. This is a major part of our investment this year," Sony India managing director Masaru Tamagawa told reporters here today.
With a strong product line-up, which mainly comprises laptop, TVs and cameras, Sony, which is still struggling globally following the March 2011 tsunami and the devastating floods in Thailand last year, which badly disrupted its supply chain, is expecting to clock 30 per cent growth in sales this year, Tamagawa said.
He also claimed that the company is "doing very well in each of these segments".
"With a target of 30% growth, we are looking at around Rs 8,000 crore sales this year," he said, adding that our sales stood at Rs 6,313 crore in 2011.
Higher growth will be driven by the television and laptop segments, followed by cameras, he said.
Sony had 16% market share in the laptops in 2011 and is expecting to ramp it up to 18% this year, while in the TV market Sony already is the market leader in the flat panel segment with 19% share last year, led by its Bravia brand, which sold over 9 lakh units in 2011.
However, he did not offer a projection for this year.
In the camera space, too, the company claims no 1 slot in the compact digital camera space with a cool 34% share. Last year, it sold 11 lakh Cyber-shot cameras and is expected to touch 14 lakh this year.
Meanwhile, the company launched two products here -- the Vaio E 14A and its first ultrabook in the country -- the Vaio T. The company plans to sell 6.5 lakh Vaios in 2012, Tamagawa said.
On the impact of the sharp depreciation of the rupee, the Sony official said there is definitely an impact but added the company has made some price adjustment of up to Rs 3,000 in Q4 of 2011.
"We did some prices adjustments ranging from Rs 2,000 to Rs 3,000 across models. We have already factored in the rupee impact for the products, which we launched today," he said.