DIRECTOR LAVA INTERNATIONAL
A missed call for China is a loud wake-up call for desi companies
Indian smartphone brands Lava and Ai+ are gaining market share as Chinese rivals retreat amid soaring memory chip prices and shrinking demand. Domestic brands captured 7% of shipments in the September quarter, their highest share in nearly eight years. Government incentives and India's manufacturing expansion offer a boost, but technology, distribution, after-sales service and customer loyalty remain critical to sustained growth.
Lava to invest Rs 1,100 cr to boost electronics components manufacturing
Lava International plans a significant investment of Rs 1,100 crore over the next five years. This funding will drive diversification into critical electronics components. The company has already launched a new mobile charger facility. Lava aims to manufacture key components like camera modules and display modules in-house.
Former Lava MD Hari Om Rai gets bail in money-laundering case
The Delhi High Court granted bail to former Lava International MD Hari Om Rai, arrested in a money-laundering case involving Vivo Mobile. The court cited the ongoing documentation stage of the trial and the unlikelihood of its conclusion in the near future as reasons for granting bail.
Local smartphone maker Lava rejigs board
Lava International has restructured its board, elevated leadership members, and added two independent directors. The move follows co-founder Hari Om Rai's resignation from the board following the Vivo money laundering case. The company plans to raise Rs 500-600 crore in the next fiscal, aiming to challenge Chinese domination in the smartphone market.
Vivo PMLA case: Court issues fresh notice to Jail Superintendent to file medical report of Lava International MD
The Managing Director of Lava International, Hariom Rai, has recently filed a bail petition in trial court citing medical grounds. The plea also stated that the allegations made against him were false and absurd. He has no direct or indirect control over Vivo's business, nor has he derived any monetary benefit, nor has he engaged in any transaction with Vivo or any entity allegedly related to Vivo, let alone having been associated with any alleged 'proceeds of crime'.
Vivo case: Court extends ED custody of Lava International MD Hari Om Rai by 2 days
A Delhi court has extended the custody of Hari Om Rai, the managing director of Lava International, by two days in a case of alleged money laundering involving smartphone company Vivo. The court also granted the Enforcement Directorate (ED) two more days of custody for questioning Chinese national Guangwen alias Andrew Kuang and chartered accountant Nitin Garg. The ED has accused Vivo of illegally transferring Rs 62,476 crore of its revenues to China to avoid taxes in India.
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Vivo PMLA case: Court extends ED custody of four people by three days
The ED had sought a 10-day extension in the remand of the four accused, saying that it wants to confront them with 13 witnesses and over 4 terabytes of data from multiple devices they have seized. Additional Sessions Judge Devender Kumar Jangala had on October 10 sent the accused to ED’s custody for three days. The four accused — Hari Om Rai, the MD of Lava International, Chinese national Guangwen alias Andrew Kuang, and chartered accountants Nitin Garg, and Rajan Malik were produced in the court on Friday upon expiry of custody.
Vivo set up network of companies to cheat authorities: Enforcement Directorate
The ED has claimed that to give effect to their “evil designs” at least “30 Chinese individuals entered India using business visa with the intent to work as employees in Vivo companies. Though they worked for Vivo companies in India, they never disclosed Vivo companies as their employer in their visa applications”.
ED arrests 3 Vivo India executives and Lava MD under PMLA
Earlier this month, the Indian police formally accused Vivo Mobile of helping transfer funds illegally to NewsClick, a news portal under investigation on charges of spreading Chinese propaganda. Vivo has not commented on the allegations.
Vivo PMLA case: Delhi court sends four accused to 3-day ED custody
The federal agency arrested Chinese national Guangwen Kyang aka Andrew Kuang under relevant provisions of the Prevention of Money Laundering Act (PMLA). It also arrested Lava International managing director Hari Om Rai; another company executive Rajan Malik; and chartered accountant Nitin Garg.
Lava to launch 5G smartphone at Rs 10,000 around Diwali
Pre-bookings for the Lava Blaze 5G will commence around Diwali this year, he said. Built on MediaTekDimensity 700 chipset, the smartphone will have 50 megapixels (MP) AI triple rear camera and 8 MP front camera and come with an anonymous call recording feature.
Homegrown Lava plans to file DRHP by June-end; Chinese shareholder to dilute holdings post IPO
China’s Unic Memory Technology Company Ltd., a Tsinghua group company which holds 3.3 per cent share in Lava, is likely to sell at least part of its stake along with some employees.
Lava plans to move export manufacturing base to India
Handset maker Lava International plans to shift its export manufacturing base from China to India this year on the back of an incentive scheme, and a top executive said the company will invest about ₹800 crore over the next five years.
Lava bags order from GE to make medical devices
Three-year, multi-crore contract is for hand-held ultrasound systems.
Local handset cos. eye global market to drive volumes
Analysts say that a better bet will be to increase focus on the under-$100 (around Rs 7,000) smartphone segment and on feature phones, which still offer huge volumes in India.
Desi phone companies look for a high at the low-end
Lava was the only local brand which registered positive annual growth during the quarter ended June, driven by entry-level models, said analysts.
LAVA's 'Design in India' initiative a key milestone: Ravi Shankar Prasad
LAVA aims to launch the first 'Designed in India' smartphone by October, and the entire range of mobiles by 2021.
Lava to raise Rs 193 crore from Chinese firm
Lava is investing in mobile phone design including setting up a mobile phone design centre in India.
Lava inks JV with Easy Group for Egypt entry
As part of the way forward plan, Lava will also explore opportunities to set manufacturing facilities and assembly units in Egypt.
Lava appoints new CTO, design head to push services business
Lava said that the appointments will fulfill the company's growth agenda and further bring innovative products and relevant services to customers.
Lava drops out of race to buy Nokia’s Chennai handset unit
Lava was the first Indian phone vendor to introduce its own user interface or skin, Hive, riding on the Android OS.
LAVA names Sanjeev Agarwal as manufacturing head
"Sanjeev will play a key role in providing fillip to company’s plan of starting a manufacturing unit in India," the company in a statement said.
Lava launches Iris Fuel 50 smartphone at Rs 7799
The device comes with 8GB internal memory which is expandable up to 32 GB. It is a dual-SIM phone that supports 3G in one of the SIM slots.
Lava launches phone with KitKat operating system for Rs 7,999
Lava Iris X1 is one of the few devices in India and the first one from Lava that is built on the latest Android 4.4.2 KitKat out-of-the-box platform.
Karbonn, Lava to launch windows-based devices in few months
Domestic handset players Lava and Karbonn will launch Windows-based smartphones in the coming few months.
Xolo unveils AMD-powered Windows tablet 'Xolo Win'
Xolo, the smartphone brand of Indian handset maker Lava, on Wednesday unveiled its first AMD-powered 10.1-inch tablet 'Xolo Win'.
Lava launches smartphone at Rs 13,499
Lava International today launched its premium smartphone at Rs 13,499 which will be available from the fourth week of this month
Lava International expects Rs 1,000 cr business by March'12
Director S N Rai said Lava is looking for expansion of business in Africa and looking at new geographies namely Peru and Chile.
Lava to invest Rs 100 cr in R&D this year
Lava plans to invest about Rs 100 crore this year to ramp up its R&D capabilities as it eyes a bigger share of the burgeoning Indian handset market.
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