Sony not to hike price post GST

Sony not to hike price post GST

Electronics major Sony India today said it was not considering hike in prices of its products post GST to retain its growth momentum.

“We are not increasing prices. We have grown 20 per cent last year. We are looking at higher growth in 2017,” Sony India managing director Kenichiro Hibi said here today.

Hibi did not elaborate on the cost impact Sony India is absorbing in retaining its prices post GST, which it welocmed.

GST in flat panel and many electronics items is at 28 per cent, which is higher than the previous taxation regime.

Remaining bullish about its growth in India the Japanese major said it is still evaluting its ‘own’ manufacturing strategy.

The company is still studying outsourcing and its own manufacturing strategy and a final conclusion is yet to be drawn, Hibi said adding Sony India has already started assembling TVs and media products in India with a local partner.

Speaking about sales in West Bengal in the coming Durga Puja season, Hibi said the company is aiming at a business of Rs 250 crore(August-November 2017), which is over 20 per cent more than last year.