Lava, a homegrown Indian mobile phone firm, is set to launch 4G feature phones in an effort to capture a third of the market share for entry-level devices within a year. The company, known for its budget phones with keypads but no high-end features, currently holds a 26% market share in this segment. Lava aims to increase this to 35% and become a dominant player in the market. Despite the growing use of smartphones in India, approximately 290 million people still use feature phones. Lava also plans to boost its smartphone offerings in the budget segment and aims to exceed a 10% market share for smartphones costing less than 30,000 rupees ($360) within the next two years. The company’s smartphones will also be 5G supported by next year. Lava’s strategic focus on the affordable category sets it apart from competitors like Samsung and Xiaomi, which are increasingly targeting premium smartphones as Indian consumers upgrade their devices. Lava has recently shifted all its design and manufacturing operations to India from China and is considering a future listing as it expands its smartphone business.
