Lava Secures Fastest-Growing Status in ₹10,000-₹20,000 Smartphone Segment

Counterpoint Research’s latest data reveals Lava, a leading Indian smartphone brand, has marked a notable achievement by becoming the fastest-growing smartphone brand in the ₹10,000-₹20,000 segment for the entirety of 2023 and specifically in Q4 2023.

Strong Growth Trajectory Throughout 2023

Lava showcased an impressive growth trajectory throughout 2023, particularly in the ₹10,000-₹20,000 segment, where it recorded an extraordinary growth rate of 213%. This significant accomplishment solidifies its position as the fastest-growing brand in this particular market segment.

Sustained Momentum in Q4 2023

In Q4 2023, Lava continued its commendable momentum in the ₹10,000-₹20,000 segment, recording a growth rate of 187%, according to Counterpoint data. This sustained growth in the final quarter emphasizes Lava’s consistent performance and market presence.

The brand’s success is attributed to a focused series of smartphones, including Yuva, Blaze, Storm, and Agni. Additionally, customer-centric initiatives such as “FREE SERVICE @ HOME” and “FREE REPLACEMENT @ HOME” have played a pivotal role in establishing customer satisfaction.

Managing Director’s Perspective

Sunil Raina, Managing Director of Lava International, expressed pride in achieving the fastest-growing status for both the year 2023 and Q4 2023 in the ₹10,000-₹20,000 segment. He emphasized that this accomplishment reflects Lava’s unwavering dedication to providing cutting-edge technology at accessible prices.