After PM of India Narendra Modi announced "Make in India" initiative, Japanese electronic giant Sony said it may finally re-establish its shut down company on 2004 to make country as a manufacturing base.
Sony used to produce products in India earier, but shut its facility in 2004 as company is more concerned to import products from Thailand, Malaysia, China and Japan. Smaller business in India did not justify production as company is found more efficient import,especially in view of India's free-trade agreements with some of the countries.
"Sony is committed to the Indian market and we welcome the recent initiatives by the Indian government, including inviting foreign companies to manufacture in India. While no decision has been made yet, initiatives like these have made Sony's management enthusiastic about looking at India as a potential manufacturing base," said Sony.
Sony business has been growing in India but some of its key-markets in West are not giving encouraging results.Rivals of Sony,LG and Samsung are already producing in India.
Sony India MD Kenichiro Hibi said"Indian government has taken several Progressive steps in simplifying regulatory procedure. The company launched its top line phones Xperia Z3 and Xperia Z3 compact at 51,990 and Rs 44,990 respectively. Company gained its market share close to 10% within 14-15 months after its launch of Xperia Z.The phone business contributed 30%in overall sales last year and we expect this to grow up to 40% by 2014"
Sony used to produce products in India earier, but shut its facility in 2004 as company is more concerned to import products from Thailand, Malaysia, China and Japan. Smaller business in India did not justify production as company is found more efficient import,especially in view of India's free-trade agreements with some of the countries.
"Sony is committed to the Indian market and we welcome the recent initiatives by the Indian government, including inviting foreign companies to manufacture in India. While no decision has been made yet, initiatives like these have made Sony's management enthusiastic about looking at India as a potential manufacturing base," said Sony.
Sony business has been growing in India but some of its key-markets in West are not giving encouraging results.Rivals of Sony,LG and Samsung are already producing in India.
Sony India MD Kenichiro Hibi said"Indian government has taken several Progressive steps in simplifying regulatory procedure. The company launched its top line phones Xperia Z3 and Xperia Z3 compact at 51,990 and Rs 44,990 respectively. Company gained its market share close to 10% within 14-15 months after its launch of Xperia Z.The phone business contributed 30%in overall sales last year and we expect this to grow up to 40% by 2014"
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