Close on the heels of shutting down its audio manufacturing unit, consumer electronics firm Sony India has suspended production of color television (CTV) facility and said it was evaluating whether to close down the CTV unit.
"We are evaluating the viability of the CTV manufacturing unit in India. At this moment, we cannot say whether the company will continue with the unit," said Mohit Parasher, Sony India's general manager of Sales and Marketing.
The wholly-owned subsidiary of Sony Corp. of Japan, has invested Rs 800 million (approx. U.S. $17.3 million) in India and aims for 50-percent top-line growth this fiscal from Rs 8 billion, which will come from CTV and digital imaging products.
Sony India, which has a 45-percent market share in audio products, closed down the audio manufacturing unit in June this year.
"We have given VRS to our employees, who used to work for the audio plant," Mr. Parasher said.
At present, the company imports CTVs from a number of countries, including Thailand. In view of India's Free Trade Agreement (FTA) with Thailand coming into force, the company may start bulk import of CTVs from that country. (PTI)
to Daily News