The Indian smartphone manufacturer Lava is looking forward to re-establish its smartphone business in India with 5G at the core. To ensure an uninterrupted supply chain in its process of rebuilding the company is focusing on long-term associations with its partners. The president and business head at Lava International, Sunil Raina talked about the future of the brand in the smartphone market and how they will be capitalising on the 5G smartphone capabilities. Let’s find out more.
Lava’s Plan to Grow
According to a report from ET Telecom, Sunil Raina in a statement said that the company is focusing on 5G smartphones in India and is planning to change the relationship with ecosystem partners. He added that as far as the supply chain is considered, the situation has improved as the company now plans ahead of time which has enabled it to discuss long-term relationships with its partners to secure supplies.
However, he added that supply-chain related challenges are continuing in the market with fresh lockdowns in Chinese cities and the ongoing geopolitical situations. He stated that the circumstances are not always in favour when it comes to 4G whereas, for 5G, the situation is better. 5G seems to be the clear rallying point for the company as it is investing massively to boost its local research and development capabilities. For those unaware, Agni is Lava’s sub-brand for 5G smartphones.
Talking about the 5G smartphones, Sunil Raina stated that Lava aims at becoming the real 5G smartphone brand in India by understanding the usage and behaviour patterns of the consumers and is also working on industry-first features for its 5G smartphones. The top executive further informed that Lava will only manufacture 5G smartphones with a price tag of Rs 10,000 or above. On the other hand, the 4G smartphones will be priced under Rs 10,000.
Notably, Lava plans to raise Rs1,400 crore-Rs1,500 crore via an initial public offering (IPO). The draft prospectus for this fund-raise has already been filed with the Securities & Exchange Board of India (SEBI) back in 2021. Furthermore, the company also plans to establish its accessories market in India to compete with the Chinese brands. Raina stated that the company is seriously considering the hearable and wearables manufacturing to expand its portfolio.
