AIWA to enter CTV market soon

Aiwa, the consumer durables brand owned by Sony, is considering an entry into the colour television (CTV) market in the country soon.

"CTVs are a part of Aiwa's portfolio globally and we would like to bring them to India too," Prasun Banerjee, divisional head, Aiwa, told mediapersons at a press conference here yesterday.

Sony India will be using the Aiwa brand to drive sales in the high volume, lower price point segment in both audio and video product categories.

Aiwa was relaunched in India in October last year after Sony's acquisition of the brand in 2003. The Japanese brand first made an entry into the country in 1998 through a shortlived marketing tie-up with Kabir Mulchandani-owned Baron Electronics.

"When the joint venture broke, there was a problem with spares and the service network, which dented the brand's image. Now all our efforts are towards building trust with the consumers," explained Banerjee.

According to Banerjee, the company would spend around Rs 10-15 crore for expanding reach, increasing the customer service set-ups, and brand awareness this year.

Currently, Aiwa shares Sony's service network across the country.

Aiwa, which has launched a slew of hi-fi audio systems and personal music systems since October 2003, expects to clock a turnover of Rs 100 crore in 2004 and account for nearly 10 per cent of Sony India's turnover. The company, today launched another 22 new products in the portable audio and CD player category with prices ranging from Rs 690 to Rs 8,990.

"We want to further enhance our product portfolio by launching 50 new products in 2005 by when we hope to be present in 150 ctities. The new products will be in home theatre segment, micros and MP3," Banerjee said.

The thrust on the Aiwa comes after Sony's lacklustre performance in the Indian market, despite making an entry before the Korean consumer durables leaders such as LG and Samsung.

Sony India's only major presence is in the Rs 400 crore hi-fi music systems market where it commands a 40 per cent marketshare. With Aiwa now reaching out to the young and price-conscious consumers, Sony is expecting to grow the overall market.