In an interview with myrepublica.com, he disclosed the company´s plan to open Sony´s world-class outlet in Kantipath and launch products like Sony Vaio laptops soon.
Excerpts:
Myrepublica.com: How has been the performance of your company over the years?
Ramesh Bista: We have always enjoyed a high growth rate in the Nepali market because Nepali consumers warmly receive Sony products. In the last fiscal year that ended in mid-July 2009, we recorded a robust growth of 50 percent. All of our (Sony) products are doing quite well in the market. We are doing especially well on core products like Cyber-shot cameras, LCD televisions, car audios and the music systems. Our car audio system enjoys almost 95 percent of the market share, while camera and LCD television hold market share of 65 percent and 55 percent respectively. Likewise, our music system enjoys the market share of 70 percent.
We have a core team of 60 people who provide excellent services to the customers. We have five showrooms in the Kathmandu Valley and 11 dealer networks outside the Valley and seven of them deal exclusively with Sony products. The service we provide is of international standard but the customers outside the Valley still have to send their Sony products to Kathmandu for repairing.
Myrepublica.com: What are your future expansion plans?
Bista: We are expanding our showroom in Kantipath. It will be of international standard and the first of its kind in the country. The design of the showroom has already been finalized by overseas experts. We believe it will impart wider sense of authenticity to the customers. This year, we have a plan to increase our growth to by 25-30 percent. For that, we are launching aggressive planning. We will strengthen our dealers and activate them. We will also compete on prices with other brands.
Myrepublica.com: What are the new products you are planning to launch this year?
Bista: We have brought Sony LED television, which costs about Rs 615,000, in the market. We had also kept it on display at the recently held CAN Info-Tech. We are planning to launch it in the market very soon. We are also preparing to bring Sony Vaio laptops in the market. Since it is a very high profile product, the parent company does not authorize anyone to sell it unless it is convinced about the demand and services. The company attaches its image with products like Vaio. However, we are lucky because we were not required to wait for long to launch it in the market.
Myrepublica.com: What business opportunities do you see in the Nepali market?
Bista: We see a huge opportunity in the LCD television segment. Most of the customers are gradually turning to this technology, disposing old TV models. With Nepalis income growing throughout the major cities, the market of electronic items has expanded. This expansion will continue to happen with education and development. Hence, we have ample scope for further deepening our presence and strengthening our position in the market.
Myrepublica.com: What are the major challenges facing you at this juncture?
Bista: Counterfeit products are one major impediment to our growth. The government has appeared weak in regulating parallel importers. We have approached concerned government agencies to tighten knot against them. We hope they will take some steps in this direction soon. Load-shedding is another major problem. Protracted power cut for long might bring about changes in the buying habits of customers. But that doesn´t affect Sony only, it affects the overall market. The political instability is another crucial factor posing problems in doing business here.
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