Sony India TV, audio sales stay flat in FY26 despite GST boost

Kolkata: Japanese consumer electronics maker Sony failed to translate its premiumisation push and a tax boost for large-screen televisions into higher sales in India last fiscal, when its flagship television and audio business remained stagnant even as the broader sales grew marginally. Sony India's consumer audio and visual business, which includes televisions, home theatre systems and personal audio products, remained flat year-on-year at ₹6,529 crore in FY26, according to the company's latest regulatory filings with the Registrar of Companies (RoC).

Overall revenue from operations grew a marginal 0.9% to ₹7,918 crore, while net profit rose 19% to ₹187 crore. The company's other businesses, comprising gaming consoles and digital cameras, recorded modest growth, with revenue increasing to ₹1,389 crore from ₹1,322 crore in FY25.

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Sony India did not cite any specific reasons for the muted sales performance in its director's report. It, however, described FY26 as a year of building a stronger foundation for sustainable growth while navigating a challenging market environment. Sony said its cash flow position remained strong in FY26.

"Despite increased competition and regulatory challenges," the company said it strengthened its business through product line-up and channel management. Sony also said it reinforced its premium positioning with new television and home theatre products while maintaining its share in the premium segment.

India's overall TV market is estimated to have grown 5-6% last fiscal with flat volumes, helped by the reduction in GST on televisions larger than 32 inches to 18% from 28% in the second half of FY26, according to industry executives. The segment is particularly important for Sony, which has traditionally focused on premium, large-screen televisions. As per Counterpoint Research, television sales rose 10% in volume in the December 2025 quarter post the GST cut, with a marked premiumisation trend and shift towards larger screens.

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The Japanese company faces intensifying competition from South Korean rivals Samsung and LG, as well as Chinese players such as Xiaomi, Hisense and Haier, which have expanded their presence across price segments.

The company is preparing for a significant restructuring of its global home entertainment business. Sony is forming a JV with Chinese electronics maker TCL, which will hold 51% stake, with Sony transferring its home entertainment business to new entity. The venture will market TVs under Sony and Bravia brands.