India's Lava looks to corner a third of feature phone market
Homegrown Indian mobile phone firm Lava will launch 4G feature phones as it aims to corner a third of the market share for the entry-level devices within a year, while also gradually boosting its budget smartphones, a top executive said. Since it was set up in 2009, Lava has become popular for the budget phones, which have a keypad but no high-end features. The company will launch 4G feature phones in the effort to take its market share in the segment to 35% within a year, up from 26% now, said Sunil Raina, the president and business head of Lava International. The firm wants to "come to a very dominant position" in this segment, he told Reuters in an interview. Research firm Counterpoint estimates that Lava has a share of less than 1% in the world's second-biggest smartphone market, with 650 million such devices. Despite Indians' growing use of smart phone s, Counterpoint estimates roughly 290 million of the population still uses feature phone s. Billionaire ...