Electronics
major Sony, a late entrant in India’s fast growing smartphone market, is in a
hurry to catch up with market leader Samsung.
The Japanese
giant, looking to double its share in India’s smartphones market to 20% by end
of 2014-15 and triple its smartphone sales revenue to 3,500 crore by end of
this fiscal year, on Wednesday launched the Xperia Z1, a premium end waterproof
smartphone priced at Rs. 44,990.
“Smartphones
will be a major revenue pillar for us,” said Kenichiro Hibi, MD Sony India. In
effect, Sony would get a third of its India revenues from smartphone sales.
The phone
competes with Samsung’s recently-launched Galaxy Note 3, but is priced
lower. India’s smartphone market,
growing 100% annually, is heating up further as brands jostle to launch newer
models.
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