Lava opts out of Nokia Chennai Plant as China partner withdraws
Lava decided not go go ahead with Nokia plant as China partner withdraws and invests back in Country. But, Lava is still willing to open Plan at Noida which was earlier decided. Today, Lava is No.4 Mobile manufacturer in India after Micromax, Samsung and Karbonn.
Nokia plan is capable of around 16 mn phones. If Lava would have taken this plant, it means without wasting any time, The company might have turned the tables by manufacturing Phones locally.
Lava International Ltd, established in 2009, is one of the fastest-growing mobile handset companies in India. It has demonstrated quick and robust expansion since inception, showing profitability and growing sales since the first year of operations. Lava and Xolo are two brands that operate under the parent company.
Lava hopes to emerge the first global consumer brand from India by providing quality innovative products to consumers across the world.
Lava realised revenues of Rs2,909 crore ($470 million) in FY13-14 and is expected to become a $1bn company by FY14-15 end. Lava plans to spend Rs300 crore in marketing in FY 14-15.
Lava has a wide product portfolio comprising tablets, feature phones and smart phones having various models in bar and touch form factor at multiple price points to suit all categories of consumers.
Lava’s of brands include IRIS series of Android-based smart phones, Discover series of Internet experience touch phones, Spark series of premium bar phones and ARC & KKT series of feature-rich budget phones.
Lava has a complete in-house product testing set-up in China and R&D setup in India. It is the only Indian mobile handset brand in the country to have invested in R&D.