Sony India plans to hike prices of smartphones, cameras

Consumer electronics major Sony India said it will soon increase the prices of its products across categories to offset the impact of rupee's depreciation.

"With the weakening of the rupee, the company will raise the prices of its products. This will be done shortly," Sunil Nayyar, Head Sales, Sony India, told reporters here.

Sony India, which sells flat panel TVs (Bravia), digital cameras (CyberShot), notebooks (Vaio) and smartphones (Xperia) in the country, ships the products from other countries.
Nayyar said the weakening of the rupee was affecting the company and the prices have to be raised.

"The rise will be a mild one and not be a burden on the consumers. The company will absorb the most impact," he said.

As Durga Puja and Diwali festivals are round the corner, the company plans to earn a revenue of Rs 400 crore during August to November period, 30% higher than the last year's figure, he added.

Last year at the same time, the revenue earned was Rs 310 crore, he said.

Nationally, the company is eyeing a growth of 25%. It will also increase the distribution network from 850 to 935 across the country, Nayyar added.