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  3. Lava Eyes 10% Smartphone Market Share In 2 Years With Investment Of Rs …

Lava Eyes 10% Smartphone Market Share In 2 Years With Investment Of Rs 600 Cr In R&D, Marketing

2 Oct 2023

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Key Takeaways

  • With a customer-centric approach, Lava is poised to grow, with growth in revenue & market share, thus impacting profitability positively.

  • With a customer-centric approach, Lava is poised to grow, with growth in revenue & market share, thus impacting profitability positively.

lava

Lava International

0.98%

Expert Analysis

Lava Eyes 10% Smartphone Market Share In 2 Years With Investment Of Rs 600 Cr 

Lava International President Sunil Raina’s words 

‘With the new strategy, Lava's smartphone business grew over 200%  last year, and this year it is growing at 300%’.

Justification 

  • The home-grown mobile device manufacturer currently holds a 2% market share, eyes 10% in the under Rs 30k smartphone segment, followed by Rs. 600 Cr investment in R&D & Marketing.

  • Lava relaunched its smartphone business with a slight pause with a focus on customer experience around devices and providing repair service at home & realized the value of competitive tech for growth & visibility.

  • It has opted not to include bloatware in its smartphones to enhance speed, improve user experience, and address security concerns. With 800 service centers, Lava offers convenient repair-at-home services and hardware replacement for defects.

  • It currently sells products through 1.2 lakh retail stores, which primarily include feature phones only, & claims to have a 25% market share.

Publisher:Free Press Journal