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.
