Lava’s, an Indian mobile phone company, is making big moves in the world of phones. They want to be the leaders in affordable phones, and they have a plan to get there. Here’s what you need to know.
Going Big on Feature Phones
Lava is known for its budget-friendly phones, and they want to keep that reputation going strong. They are launching 4G feature phones. These phones are not like the fancy smartphones you see these days. They have keypads and no fancy features, but they get the job done.
Why Feature Phones Matter
You might be wondering why Lava is so interested in feature phones. Well, even though smartphones are all the rage, many people in India still use feature phones. In fact, nearly 290 million people in India are using these phones. That’s a huge number!
Aiming for the Top
Lava wants to be the big boss in this feature phone world. They currently have about 26% of the market share, but they want more. Their goal is to grab 35% of the market within a year. That’s a big jump!
What About Smartphones?
Lava isn’t just stopping at feature phones. They also want a piece of the smartphone pie. Right now, they have only about 1% to 2% of the market for smartphones that cost less than 30,000 rupees ($360). But they want to change that. In the next two years, they aim to have more than 10% of that market.
Getting Ready for 5G
Lava’s getting ready for the future. They want all their smartphones to support 5G by next year. That means faster internet speeds for you!
While some big players like Samsung and Xiaomi are focusing on fancy, expensive phones, Lava wants to keep things affordable. They believe that phones costing less than 30,000 rupees will still make up a big part of the smartphone market in India by 2028.
Made in India
Lava is proud to be an Indian company. They moved all their design and manufacturing operations from China to India. They want to create phones that are made in India, for India.
Lava is not stopping here. They might even go public with their company in the future. They have big dreams, and they are working hard to make them come true.