India becomes Sony's fourth-largest market

Japanese consumer electronics company Sony said today its Indian operations have emerged as its fourth largest globally, overtaking businesses in Brazil and Russia during the fiscal quarter ended December this fiscal.

The sluggish demand in developed nations has helped the company's growing subsidiary Sony India achieve this position. It earned a revenue of over Rs6,000 crore during the April-December period of 2012-13.

"The Indian operations have become number four in global ranking. We have overtaken Brazil and Russia, which were ahead of us in the last fiscal," Sony India managing director Kenichiro Hibi told reporters in Mumbai.

The top three positions are held by the US, China and Japan, he said, without going into details.

"We have almost touched last year's revenue already ... we are completely on our track to treble our turnover to Rs 20,000 crore by 2015," Hibi said.

The Indian operations' revenue for 2011-12 was Rs6,313 crore compared to Rs5,446 crore in the previous fiscal. The company is expecting 30-40 per cent growth in this fiscal.