Electronics major Sony India today said it plans to increase its share to 30 per cent in the Indian MP3 market by next year by introducing more innovative products, expanding its sales network and adopting an "aggressive" marketing strategy.
"We aim to achieve a market share of 30 per cent in the estimated 9 lakh units in the Indian MP3 market. For this we will keep launching more innovative products and expand our sales network. We are also planning an aggressive strategy for the purpose," Sony India MD Masaru Tamagawa told reporters here.
Sony India, which today launched its latest 'W' series of MP3 players, said the company is planning to sell 1.8 lakh units by year 2010. The company sold around 85,000 units last year and currently has a market share of 20 per cent in the Indian MP3 market.
The company said it is also planning to increase its retail presence to 3,000 outlets including its company-owned centres, multi-brand stores and modern retail chains.
"Our products are present in around 1,000 outlets across the country which includes, Sony centres, multi-brand stores and other modern retail. We plan to increase it to 3,000 outlets by next year," he said.Besides, Tamagawa also said the company has increased its marketing expenditure to Rs 10 crore for this year for executing promotional initiatives, including print and TV commercials and other online and outdoor activities.
"We have earmarked an amount of Rs 10 crore for our communication strategy for this year. We have increased this amount significantly from last year to promote our MP3 players as a part of our plan to achieve our target markets share," Tamagawa said.
He did not disclose the amount the company spent on its marketing initiatives last year.
