Lava is a
leading end-to-end focused mobile handset and mobile handset solutions company
based in India, with operations in a number of countries. According to F&S,
they are the third largest feature phone company in India with a market share
of 13.4%, in terms of sales volume in the financial year 2021. We have presence
in many emerging markets, such as Thailand, Sri Lanka, the Middle East,
Bangladesh, Mexico, Indonesia and Nepal.
According to F&S, we are the fifth largest feature phone company with a market share of 5.0% in the world, in terms of sales volume in the calendar year 2020, and the fifth, third and sixth largest feature phone company, respectively, in North America, Asia and the MEA region, in terms of sales volume in the calendar year 2020.According to F&S, we had a market share of 10.2% in the less than US$ 70 equivalent range market in India, in terms of sales volume in the financial year 2021.
Lava design, manufacture, market, distribute and service mobile handsets, tablets and other electronics accessories under the brand “LAVA” and “XOLO” brands, and provide value added software services. Company also offer mobile handsets solutions to original equipment manufacturers (“OEMs”) ranging from sourcing, design, manufacturing, quality testing, embedding software and distribution. In the past, they have customized and manufactured white label mobile handsets for leading multi-national companies such as HMD, Bhagwati Products Limited and TCL. Lava have also designed smartphones powered with medical ultrasound application for GE Healthcare. Recently, they have successfully signed (i) a partnership license agreement with Lenovo, which entitles them to distribute mobile handsets manufactured by us under the MOTOROLA brand in India and overseas and (ii) a multi-year contract with HMD for an end-to-end design, manufacturing, supply chain and distribution of mobile handsets under the Nokia brand in India and overseas.
They have ability
to conceptualize, design and develop features, functions, applications and
services tailored to the needs of their target customers and has been a key
factor for their success. Leveraging their in-house research and development
capabilities, they have been able to introduce new products, scale up our
product development output and deliver a broad range of products with enhanced
functions and features. Over the years, we have successfully developed (i)
software such as
“Star OS” and “Hive OS”, (ii) mobile handset such as Prime X (the first
“designed in India” feature phone), Z1 (the first “designed in India” smartphone)
and myZ (the first smartphone in the world which can be customized
by
customers), and (iii) mobile applications such as Lava Pay, Lava Pulse with
Heart Rate and Blood Pressure
Monitor, and Lava Pulse 1 with thermometer functionality. In addition, we also have strong cooperation relationship with several companies on research and development of devices, operating systems and applications. Lava manufacture and assemble their mobile handsets at their own manufacturing facility located in Noida, India (the“Noida Facility”), using surface-mount technology (“SMT”) which is a leading technology in mobile handset
manufacturing.
As of August 31, 2021, they have four SMT lines and 12 assembly lines operated
by 3,105 workers,