"We are targeting to sell four million mobile phones this fiscal and earn around Rs 5,500 crore. Last year we sold two million units and the revenue was Rs 3,000 crore," Sachin Rai, business head-Xperia, Sony India, told reporters here on Tuesday.

He said the company will be spending around Rs.350 crore towards advertising for mobile phone business and increase the product's presence to 12,000 retail outlets from the current 8,000 outlets.

According to Rai, the company plans to have 500 exclusive lounge stores by the end of this fiscal.

Declining to comment on the segment that the company is deriving its maximum sales from, he said all the segments are growing. He said the company has a market share of 10 percent in the smart phone segment in India.

Rai was here to launch Sony India's latest smart phone Xperia Z2 priced at Rs 49,990.

According to him, one of the features of the new premium smart phone is that it is water proof and pictures can be take under water as well. Rai said the company is also looking at the wristband SmartBand to contribute to the overall sales.

"We aim to take leadership in the wearable technology space and are planning to launch a cost of innovate smart phone accessories," he added. Rai said the company imports the phones from China.

(Agencies)

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