Indigenous mobile devices company Lava International is planning to come up with its first 5G smartphone, that will be priced below Rs 20,000 apiece, around Diwali, according to a senior company official.
The company is also looking at up to 20 per cent share in the mobile accessories segment in the next 2-3 years, Lava International president and business head Sunil Raina told PTI.
"We are focused on some $200 (about Rs 15,000) segment as a company when it comes to smartphones. In that segment, one is 4G, which is a continuation of what we are currently doing and then we are also working on a 5G product. We will also have 5G coming up definitely before Diwali or around Diwali, so 5G smartphones are also in the works," Raina said.
Lava International has both product design and manufacturing facilities in India.
"We are completing this entire portfolio by adding the accessories portfolio as well," Raina said.
In May, the company announced foray in wireless accessories segment with the launch of ''Lava Probuds'' which it developed indigenously using Mediatek Airoha chipsets.
"We use one of the best chipsets that the industry can offer, Mediatek Airoha. It's highly reliable and one of the best chipsets that we can get in the TWS products.
"One of the cornerstones of Lava's initiative of doing the entire manufacturing in-house, doing the entire design in-house. Our dependence on the Chinese ecosystem has completely dropped, now we are seeing a huge change in the quality and experience of all kinds of products that we have made," Raina said.
Raina said that there are only 3-4 significant active players in the mobile accessories segment and Lava too will be one of the major players in the segment.
"Currently there are 3 to 4 active players in this market. We believe that we can become one more significant player in this category and get to a 15-20 per cent market share, in the next 2 to 3 years," he said.
Raina said that the company also has plans to expand its smartwatch portfolio during the upcoming festive season.
