Sony India, the fully-owned unit of Japan’s Sony Corp., reported a 26 percent jump in first-quarter revenues to Rs. 596 crore but its managing director said the company has no plans to cut the price of Playstation 3 despite Sony’s plans to reduce the video game console’s price in the United States by $100. [via The Economic Times] “We are already offering PS3 at a special price in India,” Sony India’s managing director, Masaru Tamagawa, said. “The prices may appear high compared to the price in the US, but that is due to the import duties. However, we are not planning any price cut for PS3 in India as of now.” With the price cut in the United States the difference in PS3’s sticker price in India and the U.S. widens. Sony India launched PS3 early this year, with the higher 60 GB memory version of hardware costing Rs 39,990. Earlier this week Sony announced a $100 cut in price of PS3 console which retails at $499 or about Rs. 20,000 in the US. This increased price difference could result in more grey market sales for PS3 in India, the article claims.
Sony India is targeting revenues of more than Rs 2,800 crore in 2007-08 with a marketing budget of Rs 150 crore to support it.
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