LAVA International Limited has announced that it has crossed the US$1-billion revenue mark in FY 14-15, registering a growth of over 100% over FY13-14. Lava International became the No. 2 player amongst the Indian brands in overall handsets as well as in smartphones in FY14-15
The company sold more than 26 million handsets and recorded group sales of INR70 billion in FY 14-15. The growth has been fuelled by a three-fold increase in the smartphone segment in comparison to FY 2013-14 with a significant contribution coming from international markets.
Hari Om Rai, Chairman & Managing Director, LAVA International Limited, said, “We are delighted to share that LAVA International Limited has registered more than 100% growth over the last year, overachieving the targeted revenue of US$1 billion. The credit for this stupendous success goes out to all stakeholders who have been a part of this journey, including employees, customers, shareholders and commercial partners. The entire value chain is working with ownership to achieve one goal, i.e. to become a global consumer brand from India. As we move forward, we will continue to provide innovative products and services to empower people to do more, be more.”
Lava is expanding in global markets in a big way. In FY 14-15, the company was present in 8 markets that include Bangladesh, Myanmar, Middle East, Nepal, Thailand and will now start catering to markets like Indonesia and Mexico as well… See more