Sony India suspends CTV production
Thursday, 05 August 2004, 19:30 IST
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NEW DELHI: Close on the heels of shutting down its audio manufacturing unit, consumer electronics firm Sony India has suspended production of colour television facility and said it was evaluating whether to close down the TV unit. "We are evaluating the viability of the CTV manufacturing unit in India. At this moment, we cannot say whether the company will continue with the unit," its general manager (sales and marketing) Mohit Parasher said launching 'WEGA' technology to enhance picture quality of its TV sets. The wholly-owned subsidiary of Sony Corp of Japan, has invested Rs 80 crore in India and aims at 50 per cent topline growth this fiscal at Rs 800 crore which will come from CTV and digital imaging products. Sony India, which has an impressive 45 per cent market share in audio products, closed down the audio manufacturing unit in June this year. "We have given VRS to our employees, who used to work for the audio plant," he said. At present, the company imports CTVs from a number of countries, including Thailand. In view of India's Free Trade Agreement (FTA) with Thailand coming into force, the company may start bulk import of CTVs from that country.
Source: IANS
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