Onkyo Sight & Sound India Pvt Ltd, the Indian distributor of the $2 billion Onkyo of Japan, is bullish about the growth prospects in the high-end audio markets. The company is projecting a topline of Rs 100 crore by 2005, representing around 40 per cent of the total market for high end market.
The market for high-end audio and video systems in India grew 40 per cent last year and is expected to continue growing at the same rate in the coming years.
The revenues in this segment is still small and constitute only about 4 per cent of the total domestic audio market estimated to be in the region of about Rs 2,000 crore, but is growing at a very healthy clip.
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Onkyo, which is a world leader in high-end audio and video equipment, has seen its Indian operations grow to about Rs 40 crore and today commands about 40 per cent market share in this segment.
Onkyo Sight & Sound India Pvt Ltd managing director M A Dhandapani said with increased product awareness, the domestic market for high end audio products was expected to grow at 40 per cent annually.