Latest Technology News: We are currently preparing to enter the wearable market: Lava He
Local handset maker Lava International has come a long way, having struggled not only with Chinese smartphone makers but other domestic brands as well. The company said that everyone has witnessed what happened over the past decade, how smartphone makers flourished in the market, but soon several of them also disappeared. In an interview with activity area, Sunil Raina, President and CEO, Lava International, shared that with government support, a lot has changed at the policy level, and with 5G services in place, the market looks promising.
Edited excerpts follow.
Lava has launched several products in the recent past and has seen significant growth as well. How would you compare today’s market to a few years ago?
Last year was very exciting for us because after things got a little out of whack in the industry over the past four years, we chose to focus on feature phones and consolidate ourselves, and figure out what we need to do on smartphones. So we slowed down on smartphones, but shifted gears last year. It’s been a year that we have consistently increased our smartphone sales. Last year we grew 2x YoY and this year we already trend 3x YoY on smartphone.
The way things are going, I think it’s going to be an exciting time because consolidation has taken place to a large extent. Even though the industry was down 10-15% from the previous year, we grew
What is your strategy towards 5G handsets now and how will it contribute to your business?
Strategically, we said anything over 10,000 will be 5G. We haven’t launched any 4G phones above 10,000 and therefore much of the growth is coming from the 5G segment. Compared to 4G, 5G has clearly increased. It should be around 60:40 (5G vs 4G).
In fact, traditionally we weren’t as active in the 10,000+ segment, and with various challenges we had to find the right product and service. It’s something we’ve been working on and now we’re seeing over 10,000 is something we’re doing really well compared to what we’ve ever done in our entire tenure.
But, when it comes to competition, companies like Realme, Xiaomi, etc. also launched 5G smartphones at similar prices.
We’ve worked to make sure we’re getting the best experience for consumers. Of course, you need to get the price spec equation right and ensure you stay competitive in the market. What we were able to do, and in fact we did better, because last year we launched our first 5G smartphone at 10,000. And, it continues to be the most affordable 5G smartphone today. From this point of view, we can say that we have beaten the competition by obtaining the right price value for consumers.
We also made three important policy decisions – one was to achieve a great customer experience after purchase, we made sure that every one of our phones comes bloatware free. Second, we have decided that, regardless of the price, we will provide quarterly software updates on all our smartphones. Third, the change in our service philosophy – for every smartphone, we provide in-home service, regardless of location and if there is something wrong with their device. If there is a bigger problem like hardware defects, within the warranty period, we will completely replace the device with a new one.
Going forward, will you focus solely on smartphones or expand your portfolio with other form factors?
Of course, smartphones will be the focus. Apart from that, we intend to enter the wearable market and we are currently preparing for it. You will see some actions on the wearable side such as smartwatches and smart audio products like headphones, TWS and neckbands.
Since the government has put in place many policies, what do you think are the requirements of the industry?
The government has been encouraging. Production in India has been steadily growing and there are a lot of incentives going on, especially in the form of duty increases on certain components. Therefore, many components are now localized. Many of the components that we couldn’t find locally are now available. There are a few big components like chipsets, cameras and others that have yet to be localized, but I think there’s a lot of action on that side as well. Once this happens, the ecosystem will become complete in India and hence the design will become more focused. An incentive is through PLI, but more than that, we also got the ecosystem to grow in India so that what China is doing, kind of dominating the ecosystem, we’re also comfortable doing in India.
Also read this Article:
An Overview of Global Events in 2023
In 2023, the world witnessed a myriad of events that left a lasting impact on global affairs. From political developments and economic shifts to environmental challenges and breakthroughs in science and technology, the year was marked by significant changes and a sense of urgency for collective action. Here’s an overview of some of the latest world news in 2023.
Political Unrest and Diplomatic Strides:
In the political arena, several regions experienced unrest and geopolitical tensions. The ongoing conflict in the Middle East continued to dominate headlines, with efforts towards peace and stability remaining elusive. However, there were also moments of diplomatic breakthroughs as nations engaged in dialogues to ease tensions and work towards lasting solutions.
The global economy faced both challenges and opportunities. Trade disputes between major powers affected markets, while some countries grappled with debt crises. On the other hand, emerging economies showed resilience and promising growth, fueling optimism for a more balanced global economic landscape.
Innovation surged forward in the tech industry, with breakthroughs in artificial intelligence, renewable energy, and space exploration. Quantum computing achieved milestones, promising radical transformations across industries. Renewable energy sources gained traction, with many countries setting ambitious goals to combat climate change.
Climate Crisis and Environmental Resilience:
As the climate crisis intensified, extreme weather events wreaked havoc in various parts of the world. Wildfires, hurricanes, and floods reminded humanity of the urgent need for climate action. In response, governments and communities across the globe doubled down on efforts to reduce carbon emissions, invest in sustainable infrastructure, and protect biodiversity.
Health and Pandemic Management:
Health remained a global priority as countries continued to combat the COVID-19 pandemic. With the emergence of new variants, vaccination efforts and public health measures remained crucial to curbing the spread of the virus. There were also significant advancements in medical research and technology, offering hope for better preparedness in handling future health crises.
Sports and Cultural Milestones:
Amidst the challenges, the world found moments of joy and unity through sports and culture. International sporting events brought together athletes from diverse backgrounds, promoting solidarity and camaraderie. Cultural exchanges and celebrations showcased the richness of human diversity and fostered mutual understanding.
In conclusion, the year 2023 was a dynamic period filled with significant events that shaped the course of history. From political unrest to technological advancements and environmental challenges, the world witnessed the complexities of the global landscape. While obstacles remained, there were also encouraging developments and collaborative efforts towards a more sustainable, peaceful, and prosperous future for all nations. As we move forward, the lessons learned from these events serve as a reminder of the importance of collective action and cooperation to address shared global challenges.