With up to Rs 600 crore invested in product development and marketing over the next two years, domestic smartphone manufacturer Lava International anticipates a 10% market share in the sub-Rs 30,000 price range, according to a senior company official.
Lava focused on its core strengths and reworked its growth strategy at a time when several Indian mobile phone companies buckled under the pressure of aggressive pricing by foreign players around 2016–17, along with difficulties presented by the implementation of the GST and demonetization.