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Lava's Rs 500 crore investment in AP
By: Tupaki Desk | 26 Oct 2015 3:11 PM IST
The 'Make in India' initiative of Centre is fetching good results already and smartphone Industry is trying to make the most out of it.
Domestic Smartphone Vendor LAVA has decided to invest Rs 500 crore for setting up mobile handset and manufacturing facility in Tirupati. It was for this plant Prime Minister Narendra Modi laid foundation stone on October 22nd before leaving for Tirumala.
Officials inform, Operations will begin at the plant from 2017 and it has got the capacity of producing five million handsets a month once its 100% functional. This Manufacturing Facility will also work for other brands such as Micromax, Celkon and Karbonn. It is expected to generate employment for around 12,000 People.
Currently, Lava's market share is seven percent. While Samsung and Micromax are top picks with 23 percent & 17 percent, Intex market share stood at 11 percent.
Domestic Smartphone Vendor LAVA has decided to invest Rs 500 crore for setting up mobile handset and manufacturing facility in Tirupati. It was for this plant Prime Minister Narendra Modi laid foundation stone on October 22nd before leaving for Tirumala.
Officials inform, Operations will begin at the plant from 2017 and it has got the capacity of producing five million handsets a month once its 100% functional. This Manufacturing Facility will also work for other brands such as Micromax, Celkon and Karbonn. It is expected to generate employment for around 12,000 People.
Currently, Lava's market share is seven percent. While Samsung and Micromax are top picks with 23 percent & 17 percent, Intex market share stood at 11 percent.