Sony India, a unit of Japan's Sony Corp, expects sales growth in the current financial year to slow down to 35% compared with a 46% rise a year ago, a top official told reporters on Tuesday.
The revenue growth is expected to slow down due to the current macroeconomic environment, including rising interest rates and inflation, resulting in customers cutting back on purchases, Masaru Tamagawa, managing director at Sony India said.
The firm has earmarked advertising and promotional expenditure of Rs 3.6 billion (USD 80.9 million) for the current financial year ending March 2012.
Sony India, which began operations in 1994, competes with the Indian units of Samsung Electronics Co and LG Electronics Inc among others.
(USD 1 = Rs 44.485)