Lava Emerges as Fastest-growing Smartphone Brand in Mid-range Segment

Lava Emerges as Fastest-growing Smartphone Brand in Mid-range Segment

Lava has achieved a significant milestone by emerging as the fastest-growing smartphone brand in the ₹10,000-₹20,000 segment in the country for the year 2023 and Q4 2023, according to Counterpoint Research’s data. These numbers underscore Lava’s exceptional performance in the highly competitive Indian smartphone market.

Throughout 2023, Lava showcased an extraordinary growth rate, particularly in the ₹10,000-₹20,000 segment, where it demonstrated a remarkable growth of 213%, cementing its position as the fastest-growing brand in this segment.

Source: Counterpoint Research
Source: Counterpoint Research

In Q4 2023 too, Lava continued its impressive momentum in the ₹10,000-₹20,000 segment with a growth rate of 187%, according to Counterpoint data.

Source: Counterpoint Research
Source: Counterpoint Research

and affordable smartphones that cater to the diverse needs of Indian consumers. With a relentless focus on customer satisfaction and technological innovation, Lava has successfully captured markets across India through focused series of smartphones, like Yuva, Blaze, Storm and Agni, and customer centric initiatives like “FREE SERVICE @ HOME” and “FREE REPLACEMENT @ HOME”.

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. We extend our heartfelt gratitude to our customers, partners and employees for their unwavering support. 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.”

As Lava continues to innovate and expand its product portfolio, it remains committed to driving growth, empowering consumers, and shaping the Indian smartphone market’s future.

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