LAVA which has a wide product portfolio that encompasses tablets, feature phones, and smartphones having various models in bar at multiple price points to suit all categories of consumers, is looking to make a mark in the smart phone industry in India which is dominated by Chinese players like BBK which owns brands like VIVO, One-plus and OPPO and Xiaomi with brand like Redmi and Mi having more than 60% market share.
As per commentary from the management, they are looking to acquire market share of 5% at the end of this financial year. Lava is a dominant player in feature phone category with 20% market share but due to rise in demand for smart phones in India even at lower strata of population, they are building smart phones in 4G and 5G technology.
In the first of its kind experiment, Lava in January launched a smart phone a “made-to-order” which allows users to make a smartphone as per their requirements. For example, if you need more RAM, same can be increased or phone running out of space, same can be increased. So, this looks a very good prospect as far as user experience is concerned.
Lava founder Shri Hari Om Rai is the man behind launching of PLI scheme is India for mobile manufacturing and they are the front runner in getting chance to make phone under this scheme. As per scheme, every participant has to put some minimum investment and have to manufacture minimum number of mobile phones. However, due to pandemic situation Lava like other players did not meet the criteria. However, they are hopeful for meeting the same this fiscal year.