Kolkata: Cellphone brand Lava is eyeing a 10% market share in the sub-Rs 30,000 smartphone market. The company, which has a 2% market share, is growing at a CAGR of 40%-50% while the industry growth is flat.
Speaking at an event, Lava International MD Sunil Raina said that the company has 29% market share in feature phones while in the smartphone segment, it made re-entry four years ago.
India now is a market of 15 crore smartphones, and 70% of this is the sub-Rs 30,000 category. "The market is flat and not growing. We are confident of gaining market share in smart category," he added.