Indian smartphone brand Lava has emerged as the fastest-growing player in the crucial Rs 10,000-Rs 20,000 segment for both 2023 and the final quarter of the year, according to market research firm Counterpoint. This achievement underlines the company’s success in navigating the highly competitive Indian smartphone landscape.
Throughout 2023, Lava witnessed growth, particularly in the mid-range segment, where it recorded a 213 per cent rise, solidifying its position as the segment leader. This momentum continued into Q4 2023, with the brand maintaining a 187 per cent growth rate in the same price bracket.
Further, analysts attribute Lava’s meteoric rise to its commitment to delivering innovative, high-quality, and affordable smartphones that cater to the diverse needs of Indian consumers. The company’s relentless focus on customer satisfaction and technological innovation, evident in series like Yuva, Blaze, Storm, and Agni has resonated with customers across the country.
Additionally, customer-centric initiatives like “free service @ home” and “free replacement @ home” have further bolstered its appeal.
Commenting on the achievement, Sunil Raina Managing Director of Lava International stated, “We are incredibly proud to be the fastest-growing smartphone brand in the Rs 10,000-Rs 20,000 segment. This recognition reflects our dedication to providing cutting-edge technology at accessible prices. We extend our gratitude to our customers, partners and employees for their unwavering support.”
He further added, “This achievement is not just a win for Lava, but also India, as we are the only Indian brand competing with foreign brands and achieving such remarkable milestones.”
