Lava Aims to Capture One-Third of India's Feature Phone Market Within a Year
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Lava aims to corner a third of India's feature phone market in a year by launching 4G feature phones. Currently has 26% share.
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The company wants to reach a "dominant position" in feature phones. Has less than 1% share in India's smartphone market.
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Lava plans to boost budget smartphones, targeting over 10% share in under 30,000 rupee segment in 2 years, from 1-2% now.
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All Lava smartphones will be 5G enabled by next year.
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Phones under 30,000 rupees will be over 40% of India's smartphone market by 2028. Lava sees big potential here.
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Has moved all design and manufacturing from China to India in recent years.
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Deferred IPO plans for now but aims to list in future as it grows smartphone business.