Sony to close audio factory in India

By SiliconIndia   |   Monday, 21 June 2004, 07:00 Hrs
Printer Print Email Email
MUMBAI: One of the worldÂ’s most visible global brands, Sony, has decided to shut down part of its manufacturing operations in India, reports a business daily.

The company will soon stop manufacturing audio products at its plant in Haryana and will now meet its Indian demand through imports. The company is likely to source its Indian requirements from Thailand which caters to the entire Asian market, the daily, Economic Times, said quoting sources.
The sales volumes generated by Sony India did not justify the costs involved in running a manufacturing unit for audio products, it said.

The report said Sony was also increasingly scaling down the manufacture of color TVs and was meeting most of the Indian demand through imports. However, there is no confirmation of this, said the report.
The report quoting sources said Sony is conducting an overall review of its global production structure to boost operational efficiency and to produce in cost-competitive locations. Sony IndiaÂ’s decision to stop audio production in India is in line with SonyÂ’s overall review of its production.

Sony has at present a market share of only 3% in the Indian CTV market which is dominated by LG and Samsung.



SPOTLIGHT
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..