Ever since the Government has announced a PLI scheme for the handset industry, domestic manufacturers are looking for ways to invest in India. Besides, these companies plan to bring new handsets under Rs. 15,000 in the country.
Similarly, Lava has announced that it is planning to bring 5G devices under Rs. 20,000, which seems that it is all set to give tough competition to Chinese players. Additionally, the company has also shared its plans to expand its manufacturing the investment Rs. 800 crore.
“We are targeting Rs. 6,000-Rs. 10,000 smartphone range and will soon enter the mid-price range…5G shift is happening in the market and we will be there,” Sunil Raina, President, and Business Head, Lava International, was quoted by Economic Times. “We will launch 5G phones in Rs. 15,000-Rs. 20,000 price segment,” he added.
In addition, the company is looking for a five percent share in the smartphone market, which is leading by Samsung and Chinese players. This announcement comes after Micromax shared its investment plan in the country. Notably, Micromax is planning to invest Rs. 500 crore in research and development and local manufacturing.
Meanwhile, Lava has launched four new smartphone series on Thursday. The Lava Z1, Lava Z2, Lava Z4, and the Lava Z6 smartphones are priced at Rs. 5,499, Rs. 6,999, Rs. 8,999, and Rs. 9,999. The Lava Z1 smartphones come with 2GB RAM + 16GB storage variant, while Lava Z2 features 2GB RAM + 32GB storage, the Lava Z4 comes with 4GB RAM + 64GB in house storage, the Lava Z6 supports 6GB RAM + 64GB storage.
It is worth noting that Lava comes in 16 companies that get the PLI scheme as it is manufacturing smartphones under Rs. 15,000. The company also claims that it has manufactured four crores feature and 2.6 crore smartphones every year.
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