Lava emerges as fastest-growing smartphone brand in Rs 10,000 - Rs 20,000 segment

Homegrown smartphone manufacturer Lava has emerged as the fastest-growing smartphone brand in the Rs 10,000 - Rs 20,000 segment in the country for the year 2023 and Q4 2023. According to Counterpoint Research’s data, Lava registered a remarkable growth of 213 per cent, cementing its position as the fastest-growing brand in this segment.

"Throughout 2023, Lava showcased an extraordinary growth rate, particularly in the ₹10,000-₹20,000 segment," the report said.

In Q4 2023 too, Lava continued its impressive momentum in the Rs 10,000 - Rs 20,000 segment with a growth rate of 187 per cent.

According to the report, brands like Poco, Redmi and other Chinese smartphone brands are not on the list of the top 3 fastest-growing brands in the Rs 10,000 - Rs 20,000 price band in India.

What Worked For Lava?

According to the company, relentless focus on customer satisfaction and technological innovation has helped Lava successfully capture markets across India. Also, a focused Series of smartphones, like Yuva, Blaze, Storm and Agni, and customer-centric initiatives like “FREE SERVICE @ HOME” and “FREE REPLACEMENT @ HOME” helped the company strengthen its position. 

Commenting on the achievement of this milestone, Lava International Managing Director Sunil Raina said, “We are incredibly proud to be the fastest-growing smartphone brand for the year 2023 and Q4 2023 in the ₹10,000-₹20,000 segment. It was exactly where we worked on and this achievement is a demonstration of our firm dedication to providing cutting-edge technology at accessible prices. This achievement is not only a win for Lava International but also a win for the country, as we are the only Indian brand competing with foreign brands and achieving remarkable milestones.”