The Japanese consumer electronics major has entered into an agreement to manufacture its Bravia line of televisions at Taiwanese contract manufacturer major Foxconn’s plant near Chennai.
It is also evaluating the possibility of making smart phones in the country and may eventually set up its own plant in India, Sony India managing director Kenichiro Hibi said. The government’s ‘Make in India’ policy and the growing importance of India for Sony worldwide has accelerated the decision to manufacture in India once again.
Local production will help them to be more competitive, lower costs and allow faster turnaround time to launch newer models. India is the fourth-largest market for Sony, after the US, China and Japan. Sony India clocked Rs 10,600 crore sales in 2014-15, with televisions and smart phones contributing 40 percent each to its revenues.