Lava Plans Major Growth in Indian Phone Market Through New 4G Feature Phones and Affordable 5G Smartphones
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Lava aims to capture 35% of India's feature phone market in a year, up from 26% currently, by launching 4G feature phones.
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The company has less than 1% smartphone market share in India but wants to boost share in budget segment to over 10% in 2 years.
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All of Lava's smartphones will be 5G supported by next year.
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Lava has moved all design and manufacturing from China to India in recent years.
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The company shelved IPO plans for 2021 but is eyeing a future listing to build out its smartphone business.
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