Lava To Invest Rs 1,200 Cr, Hire 7,000 People In 2015

LAVA-mobilesHomegrown handset maker Lava International has posted a revenue of $1 billion in the fiscal year 2014-15 claiming a growth of 100% over the previous fiscal. In a press note the company said it sold more than 26 million mobile phones during that period.

The company claimed its smartphone business saw a 300% growth in volume compared to the year 2013-14.

This solid growth, as per the company, has prompted Lava to spell out its future plans for the next year.

In a mammoth scale up for a company of revenue size Rs 6,000, Lava said it will invest Rs 1200 crore towards local manufacturing. Besides, the company aims at hiring around 7,000 people in a period of one year.

“We are delighted to share that LAVA International Limited has registered more than 100% growth over last year, overachieving the targeted revenue of USD 1 billion. The credit for this stupendous success goes out to all stakeholders who have been a part of this journey including employees, customers, shareholders and commercial partners. The entire value chain is working with ownership to achieve one goal i.e. to become a global consumer brand from India. As we move forward, we will continue to provide innovative products & services to empower people to do more, be more,”  said Hari Om Rai, Chairman & Managing Director, LAVA International.

During FY2014-15, Lava was present in 8 countries and in the current fiscal the company aims to expand it further by two more countries – Indonesia and Mexico. The company claims it is the #3 smartphone player in Thailand.

Lava has also claimed to be the #2 mobile phone player in India among Indian brands in FY2014-15 citing a little known research agency Cyber Exim Solutions.

2 Comments

  1. It is 2nd to none. Great Indian product hatts off.

  2. Lava product is great Indian product, all its products from feature phones to smart phones simply superb mainly its service is good.plz provide in service center in the heart of chennai like ,mount road, royapettah r triplicane, r adayar,Parry’s kodampakkam so public can reach easily.thanks

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