Sony India is making waves in the gaming industry, with Managing Director Sunil Nayyar proudly highlighting India’s potential as a “good opportunity market” for Sony’s gaming business. After achieving nearly 100% growth in FY 2023-24 thanks to the incredible success of the PlayStation 5 and its accessories, Sony continues to lead the console gaming market with a dominant 95% market share in India. This impressive growth has been a testament to the strong demand for PlayStation and the rising popularity of gaming in the country.
Despite the record-breaking growth last year, Nayyar expects a more moderate pace in FY 2024-25. “The base is high because of the phenomenal success we achieved last year. This year, we’re focused on modest growth but are committed to expanding the gaming market, including advancements in software development and peripherals,” Nayyar told PTI.
In its recent annual report, Sony India disclosed a 50.1% growth in revenue from its ‘other business segment,’ which includes gaming and B2B ventures. This growth has primarily been driven by the booming gaming market, reinforcing Sony’s strong brand presence in India.
Sony is also exploring success in other niche segments. Its medical equipment sector, which includes innovative products like micro-displays, and its sports division, which sells Hawk-Eye systems used in major sporting events globally, have shown solid performance. The Hawk-Eye technology is widely used to track the trajectory of the ball across sports like cricket, tennis, and football, underscoring Sony’s influence in multiple markets.
In the consumer audio and visual segment, Sony India recorded a 15.7% revenue growth in FY 2023-24, further establishing its position as a leader in consumer electronics. This year, Sony aims to grow steadily, expanding its impact in India’s gaming and tech landscape.
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