Sony, Japan's leading consumer electronics maker has decided to venture up "Make in India" for smartphones and televisions, instead of depending on imports. Taking into consideration, the increase of taxes levied by the government on overseas products, the company has planned to opt for locally made smart phones and televisions.
The company headquarters in Tokyo is yet to make a decision on whether to expand third party manufacturers or to set up a manufacturing plant in India itself said Sony India managing director Sunil Nayyar. (The Economic Times)
"We are in touch with Tokyo on how to further strengthen 'Make in India'. As of now, we are happy with our third-party manufacturing and quality of products which has negligible return rates. A large portion of our portfolio will move towards local production which will be a win-win situation for the brand, consumers and government," said Nayyar (The Economic Times).
Sony which was once leading the smartphone market, giving tough time to its competitors had vanished for couple of years. Its rivals like Lenovo, Xiomi, Oppo, Vivo and others had taken up the front lines in the smartphone sector. With the "Make in India" policy Sony is once again indicating a comeback in this segment.
As mentioned in The Economic Times: India has in the past five months increased import duties on completely built television sets and smartphones to 20% from 15% and 10% respectively.
This decision comes, after the government last year increased the import duties on electronic goods in order to encourage overseas companies to set up local manufacturing plants under the Make In India Project.