Sunil Nayyar becomes first Indian to head Sony India
KOLKATA: Sunil Nayyar will become the first Indian to lead Sony’s local operations, 24 years after the Japanese consumer electronics giant entered the country, when he replaces Kenichiro Hibi as managing director on April 1.
Nayyar, who joined Sony in 1995, will be responsible for spearheading the overall growth and profitability of Sony India and will continue to expand its footprint in the country, the company said in a release on Monday. Hibi is moving to Sony Brazil as president after helming the company’s Indian operations for six years, the company said.
Nayyar till recently was the head of retail experience at Sony North America. Before moving to America in 2015, he was the sales head for Sony India for nine years.
He takes over at a time when the company is facing increased competition in its bread and butter television business from newer entrants such as Xiaomi.
Sony, the third-largest television maker in India after Korean rivals Samsung and LG, is also a leading player in digital cameras and gaming, and is trying to rebuild its smartphone business in the country by focussing on online sales and through its network of brick-and-mortar brand stores.
The company has started local assembling of televisions and smartphones in the country.
Sony India’s revenues are under pressure for the last two fiscals primarily due to downsizing of its smartphone business and exit from the laptop segment. As per regulatory filings, the company reported revenues of Rs. 7,181.84 crore for 2016-17, down from a peak of Rs. 11,010.30 crore in 2014-15.
Industry insiders believe Nayyar, with his vast experience and understanding of the market, can help Sony bounce back in the country.
Company officials said its television business has been growing and the company is expected to get back on to growth track this fiscal.
Head of a leading durable retail chain said Nayyar has good relation with the trade and understands the Indian consumers whereby he at one point was instrumental in making Sony number two in the television space. “However, subsequently, the brand lost out to LG with the Korean cutting prices,” the person said. “Sony has a premium positioning in India and Nayyar can once again lead the brand’s turnaround,” he said.
Nayyar, who joined Sony in 1995, will be responsible for spearheading the overall growth and profitability of Sony India and will continue to expand its footprint in the country, the company said in a release on Monday. Hibi is moving to Sony Brazil as president after helming the company’s Indian operations for six years, the company said.
Nayyar till recently was the head of retail experience at Sony North America. Before moving to America in 2015, he was the sales head for Sony India for nine years.
He takes over at a time when the company is facing increased competition in its bread and butter television business from newer entrants such as Xiaomi.
Sony, the third-largest television maker in India after Korean rivals Samsung and LG, is also a leading player in digital cameras and gaming, and is trying to rebuild its smartphone business in the country by focussing on online sales and through its network of brick-and-mortar brand stores.
The company has started local assembling of televisions and smartphones in the country.
Sony India’s revenues are under pressure for the last two fiscals primarily due to downsizing of its smartphone business and exit from the laptop segment. As per regulatory filings, the company reported revenues of Rs. 7,181.84 crore for 2016-17, down from a peak of Rs. 11,010.30 crore in 2014-15.
Industry insiders believe Nayyar, with his vast experience and understanding of the market, can help Sony bounce back in the country.
Company officials said its television business has been growing and the company is expected to get back on to growth track this fiscal.
Head of a leading durable retail chain said Nayyar has good relation with the trade and understands the Indian consumers whereby he at one point was instrumental in making Sony number two in the television space. “However, subsequently, the brand lost out to LG with the Korean cutting prices,” the person said. “Sony has a premium positioning in India and Nayyar can once again lead the brand’s turnaround,” he said.
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