Homegrown handset maker Lava International is eyeing a 10 per cent market share in terms of volume in the country’s sub-₹30,000 smartphone market segment by 2030, as the company has been growing at a much faster rate compared to the industry.
The Noida-headquartered mobile phone maker is now operating in the less-than-₹30,000 price segment in the smartphone market. It currently has around 2 per cent market share. The company is set to launch its flagship Agni series in the UK soon. It is also looking to enter a few African countries.
“It was a difficult phase for all Indian smartphone makers post 2017, and therefore, we had to pause our smartphone agenda then. We restarted in 2022 and have been witnessing a 40-50 per cent CAGR. The industry remained stagnant during this period, but we have been growing,” Lava International Managing Director Sunil Raina told mediapersons in Kolkata.
India now is a market of around 15 crore smartphones, and of which around 70 per cent is less than ₹30,000 category. “The entire market growth is flat. We are confident of gaining market share as we have been growing,” Raina said, adding the company’s growth was backed by product innovation, design and after-sales service.
“We were able to eat into the share of big players in the smartphone segment. We have a strategy for what is missing in the industry and for solving the problems that others don’t. We have adopted a zero bloatware policy, which gives our phones better security,” Raina pointed out. Bloatware refers to applications or programmes that come pre-installed on a device by a manufacturer.
On the overseas plan going forward, he said Lava will soon enter the UK market. Now, it has presence in Nepal, Sri Lanka and Bangladesh. “We will be launching the Agni series phones in the UK soon. It will mark a debut of the Indian smartphone brand in Europe. We are also looking at entering some African countries this year,” he added.
Founded in 2009, the company currently has a production capacity of around 4.25 crore handsets per annum.
Published on June 11, 2026
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