Exclusive: Sony India Eyes Double Digit YoY Growth From Sale Of Audio Products This Festive Season

Sony India is eyeing double-digit growth from the sale of audio products this festive season, the company's head of the audio business told ABP Live.

Sony India says products in categories such as soundbars and headphones are witnessing very strong growth in the country. Image: Krishna SinhaChaudhury/ABP Live

The festive season sale on consumer electronics is back with a bang this time after two years were lost to the coronavirus pandemic and supply chain crisis with many consumer electronics brands offering deep discounts on products across both online channels and physical retail stores. Sony India, which recently refreshed its flagship noise cancellation headphones category in the country with the Sony WH-1000XM5 wireless headphones is eyeing double-digit growth from the sale of audio products this festive season, the company's head of the audio business told ABP Live.

"We have launched new products across categories, such as soundbars, HT-A7000 and HT-A9 in the premium segment and HT-S400 in the entry segment, premium party speakers in SRS-XG300, noise cancellation WH-1000XM5 headphones and premium Bluetooth speakers, SRS-XE200 and SRS-XE300. Apart from new products, there are numerous exciting festive offers for consumers to make their festive season purchase even more joyous. We are expecting a strong double-digit year-on-year (YoY) growth for audio product sales this festive season," Gyanendra Singh, Head of Audio Business at Sony India, told ABP Live in an exclusive interview.

"After a two-year-long hiatus owing to various reasons, the industry is hopeful of bumper festive sales as festivals make up the heart and soul of our communities. We have already started witnessing an upsurge in demand right through Independence Day, Onam and Ganesh Chaturthi and we expect this trend to continue for Durga Puja and Diwali," Singh added.

Soundbars and headphones biggest drivers of growth for Sony India

According to the top Sony India executive, products in audio categories such as soundbars and headphones are witnessing very strong growth in the country. "Soundbars and headphones are witnessing a very strong growth and even the growth for party speakers has been tremendous this year. All in all, the festive sales are gearing up very strongly," added Singh.

Sony India expects footfall in physical stores to increase this festive season 

The audio major is looking at a balanced growth in revenue from both retail stores as well as online sales channels. "We expect a balanced growth in sales from both offline and online channels this year. Due to fewer restrictions, we are witnessing a much larger turnout at offline stores than in recent years. We expect a strong growth in audio products across price segments, considering our innovative product offerings and attractive price points," noted Singh.

The company expects this demand trend to continue in the second half of the financial year as well.