Japanese electronics companies continue to lose ground in India to South Korean & Chinese rivals

KOLKATA: Japanese electronics companies continued to lose ground in India to South Korean and Chinese rivals in the year ended March 2020, which industry executives attributed to the preference of younger consumers for competitively priced products over premium Japanese gadgets.

The Japanese companies also had a relatively lower online presence and were absent from the high-volume smartphone segment, the executives said.

Sony India’s sales dropped for the fifth year in a row in FY20, while that of Panasonic fell for the third straight year, as per regulatory filings made to the Registrar of Companies.