Lava eyes 10% smartphone market share in 2 years with investment of Rs 600 crore in R&D, marketing

Home-grown mobile devices maker Lava International expects to capture 10 per cent market share in under Rs 30,000-priced smartphone segment on account of up to Rs 600 crore investment in product development and marketing in the next two years, a senior company official said.

Lava International President Sunil Raina told PTI that at a time when several Indian mobile phone companies succumbed to the pressure of aggressive pricing of foreign players around 2016-17 coupled with challenges posed by demonetisation and GST implementation, Lava focussed on its core strength and re-worked on the growth strategy.