Lava to Make a Comeback in Smartphone Market at Rs. 14,000 Segment

- Advertisement -

Lava has been consistent in Rs. 7,000-price segment and a 94 per cent year-on-year growth in the Indian smartphone market

Handset maker Lava is eyeing to ramp up its presence in the smartphone market in India by targeting an affordable range – Rs. 14,000. Hari Om, Chairman, Lava International, sees huge potential in this range and gradually it can expand its presence globally to about 27 countries. He said that the 14,000-price segment was worth $113 billion with a 15 per cent CAGR in the past 5 years. The Noida-based mobile device producer is planning to tap into this market opportunity.

- Advertisement -

Online vs offline sales

According to the Lava Chairman, online platforms are a big boost to the mobile phone market. It has grown faster than offline stores mainly because of the heavy discounts to attract buyers. He cited the example of the major smartphone brands benefitting from the heavy discounts that double their sales in the e-commerce sites. However, he also stated that China-based smartphone makers have been gaining profits from the offline stores four times more than the domestic brands. “Over the long term, heavy discounting is not sustainable. Both channels are here to stay in the long term”, Hari Om was quoted by ET.

Lava in India

CyberMedia Research’s recent report states that Lava has been performing consistently in the Indian mobile phone market with a 94 per cent year-on-year growth in the third quarter that ended in September. Another market report by Counterpoint Research has brought out that it has a 6 per cent market share holding a strong grip in the 7,000-price segment.

The Noida-based handset maker has witnessed a 30 per cent productivity in India and it has surpassed its performance in China.

Lava investments

Lava plans to invest around Rs. 2,600 crores in its manufacturing units in the next five years. It has set a target of capturing about 40 per cent share in the mobile devices market in the 12,000-price segment. The Chairman informed that the company was exploring the vendor and supply chain base to increase its overall performance.

- Advertisement -

Related Artcles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Buzz

IoT Core Service of Google Cloud to Shut Soon

0
In a major announcement by the tech giant, the core internet of things (IoT) services available under Google Cloud will be unplugged in August...

NIOT Introduces Roshni, a Saline-Water LED Lamp

0
A team of scientists at the National Institute of Ocean Technology (NIOT), Chennai have developed India’s first Saline Water Lantern, named Roshni. It is...

Motional’s Robotaxi Debuts in LA

0
Motional, a joint venture between Hyundai Motor Group and Aptiv has started the ride service of the free 'Robotaxi' Ioniq 5 in Las Vegas....

Exclusive

IoT Core Service of Google Cloud to Shut Soon

0
In a major announcement by the tech giant, the core internet of things (IoT) services available under Google Cloud will be unplugged in August...

NIOT Introduces Roshni, a Saline-Water LED Lamp

0
A team of scientists at the National Institute of Ocean Technology (NIOT), Chennai have developed India’s first Saline Water Lantern, named Roshni. It is...

Motional’s Robotaxi Debuts in LA

0
Motional, a joint venture between Hyundai Motor Group and Aptiv has started the ride service of the free 'Robotaxi' Ioniq 5 in Las Vegas....

Important Sectors

IoT Core Service of Google Cloud to Shut Soon

0
In a major announcement by the tech giant, the core internet of things (IoT) services available under Google Cloud will be unplugged in August...

NIOT Introduces Roshni, a Saline-Water LED Lamp

0
A team of scientists at the National Institute of Ocean Technology (NIOT), Chennai have developed India’s first Saline Water Lantern, named Roshni. It is...

Motional’s Robotaxi Debuts in LA

0
Motional, a joint venture between Hyundai Motor Group and Aptiv has started the ride service of the free 'Robotaxi' Ioniq 5 in Las Vegas....

Sterlite Tech’s Losses down QoQ, Revenue Up YoY

0
Sterlite Technologies recently published its financial performance results for Q1, FY 23. While it witnessed a 20.32% increase in the overall revenue on a...
Drone

First Drone School Destination in NE: Guwahati

0
In the pursuance of the ‘Act East’ policy and the aim to make India a drone tech hub, northeast India has got its first...

Manufacturing

I-Day Gift: Ola Electric Car in 2024!

0
Ola Electric, at an event on Monday, announced the launch of their first electric car by 2024. Though not much has been revealed about...

Indian Chip Industry to Cross $300 billion by 2026

0
As India gradually strides toward becoming Aatmanirbhar, a new report on the chip component industry avouch for this growth. The report of India Electronics...
EV

Volkswagen Testing ŠKODA EVs in India

0
German auto giant Volkswagen has begun to test some ŠKODA EVs in India. As per a senior official of the company, the step aims...

Mahindra To Launch Unveiled e-SUVs in 2024

0
On Monday, Indian auto-giant Mahindra & Mahindra (M&M) unveiled its five new electric sports utility vehicles (e-SUVs) --- XUV.e8, XUV.e9, BE.05, BE.07 and BE.09,...

US Aiming to Regain its Semiconductor Leadership

0
Semiconductors are now finding a rightful place in all areas such as national security, information technology, aerospace, and so forth. What is sad is...