MP3 Players flood Indian markets
From today's ET : With the MP3 player market set to grow from 3.65 lakh to 5.5 lakh units in calendar 2007, Sony, Philips and Samsung are firming up plans to introduce the latest models from their international basket of products. As the consumer in India becomes more demanding and discerning, Sony Corp. has promised to continuously reinvent and upgrade the range of MP3 products to suit the needs of the consumer.
The IDC recently reported that the worldwide market for MP3 players will hit $58 billion by 2008. Currently, the ORG-GFK report mentions the overall market size in India for portable music players (CD, cassette and MP3 players) to be over a million units. In India, while sales may not be this large, the growth will be huge. Growth in the MP3 player category can be attributed to the technology boom taking place in the country.
Another factor leading the market growth is portability. Portability is key to consumers' lifestyles today, extending to storage devices as well. The Indian consumer is gradually evolving into a digital entertainment consumer, keen on creating and maintaining libraries of music in one device, instead of carrying multiple storage devices such as CDs, DVDs or USB drives.
Pic : freeq.wordpress.com
The IDC recently reported that the worldwide market for MP3 players will hit $58 billion by 2008. Currently, the ORG-GFK report mentions the overall market size in India for portable music players (CD, cassette and MP3 players) to be over a million units. In India, while sales may not be this large, the growth will be huge. Growth in the MP3 player category can be attributed to the technology boom taking place in the country.
Another factor leading the market growth is portability. Portability is key to consumers' lifestyles today, extending to storage devices as well. The Indian consumer is gradually evolving into a digital entertainment consumer, keen on creating and maintaining libraries of music in one device, instead of carrying multiple storage devices such as CDs, DVDs or USB drives.
Pic : freeq.wordpress.com
Comments