Lava Seeks to Re-Establish Smartphone Business With 5G at Nucleus

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.