Lava International
INE745X01022
Consumer Electronics
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Industry Analysis
The India Smartphone Market, valued at US$44.15 billion in 2023, is projected to reach US$88.99 billion by 2032, growing at a CAGR of 8.1% from 2023 to 2032. As India aims for a US$7 trillion GDP by 2030, the smartphone industry achieved a significant milestone of US$49.55 billion (Rs. 4,10,000 crore) in FY24.
India’s global export ranking improved from 11th in 2011 to 6th in 2022 and further advanced to 5th place in 2023. Mobile phone exports from India surged from US$0.2 billion (Rs. 1,556 crore) in 2014-15 to US$14.5 billion (~Rs. 1,20,000 crore) in 2023-24, reflecting an impressive CAGR of 62.06% over this period.
(Source: Industry Research Report and Annual Report)
Overview of Lava International
Established on 27th March 2009, Lava International Limited is a prominent mobile handset company based in Karampura, Delhi, with a global presence. It stands out as the only brand that fully designs and manufactures "Make in India" phones. Lava’s products are distributed through 1.65 lakh retailers, backed by a network of over 1,000 distributors. The company also operates one of India’s largest after-sales service networks, with more than 800 service centers across the country.
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