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Lava To Launch New 5G Smartphone Around Diwali This Year; Targets 20 Per Cent Market Share
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Domestic electronics company Lava International is likely to launch its first 5G smartphone at a cost of less than Rs 20000 around Diwali this year.
Lava is targeting to acquire about 20 per cent share in the segment of mobile accessories in the coming two-three years.
It is also simultaneously working towards initiating a smartphone in the 4G segment around the same price range, i.e. Rs 15000.
Lava International President Sunil Raina informed the PTI, “We are focused on some USD 200 (about Rs 15,000) segment as a company when it comes to smartphones. In that segment, one is 4G, which is a continuation of what we are currently doing and then we are also working on a 5G product.”
He added, “We will also have 5G coming up definitely before Diwali or around Diwali, so 5G smartphones are also in the works.”
Raina mentioned that Lava has focused on comprehensive in-house manufacturing and design. He further added that the company’s dependence on the Chinese ecosystem has dropped significantly and this has resulted in a big change in the quality and experiences of all the products that it has developed.
The senior executive claimed that there are only 3-4 significant players in the mobile accessories market and hence Lava can make rapid strides in that within a few years’ time.
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