LAVA crosses US$1-Billion Revenue Mark in FY14-15

LAVA International Limited has announced that it has crossed the US$1-billion revenue mark in FY 14-15, registering a growth of over 100% over FY13-14. Lava International became the No.  2 player amongst the Indian brands in overall handsets as well as in smartphones in FY14-15

The company sold more than 26 million handsets and recorded group sales of INR70 billion in FY 14-15. The growth has been fuelled by a three-fold increase in the smartphone segment in comparison to FY 2013-14 with a significant contribution coming from international markets.

Hari Om Rai, Chairman & Managing Director, LAVA International Limited, said, “We are delighted to share that LAVA International Limited has registered more than 100% growth over the last year, overachieving the targeted revenue of US$1 billion. The credit for this stupendous success goes out to all stakeholders who have been a part of this journey, including employees, customers, shareholders and commercial partners. The entire value chain is working with ownership to achieve one goal, i.e. to become a global consumer brand from India. As we move forward, we will continue to provide innovative products and services to empower people to do more, be more.”

Lava is expanding in global markets in a big way. In FY 14-15, the company was present in 8 markets that include Bangladesh, Myanmar, Middle East, Nepal, Thailand and will now start catering to markets like Indonesia and Mexico as well... See more

Comments

Post a Comment

Popular posts from this blog

N Chandrasekaran appointed chairman of Tata Sons

Image
The board of directors of Tata Sons, at its meeting has unanimously appointed N Chandrasekaran as executive chairman, Tata Sons. N Chandrasekaran shall take charge from February 21, 2017. The board of Tata Sons said, “Chandrasekaran has demonstrated exemplary leadership as the chief executive officer and managing director, Tata Consultancy Services. We believe he will now inspire the entire Tata group to realise its potential acting as leaders in their respective businesses, always in keeping with our value system and ethics and adhering with the practices of the Tata group which have stood it in good stead.” Chandrasekaran was the chief executive officer and managing director of Tata Consultancy Services since 2009. A Tata lifer, he had joined the company in 1987 and was appointed as a director on the board of Tata Sons on October 25, 2016.
Read more

Visa buys NFT based CryptoPunk and paid $150,000 in Etherium

Image
Visa buys NFT based CryptoPunk and paid $150,000 in Etherium:  Leader in the digital payments   Visa   has purchased a digital CryptoPunk for $150,000, marking the company's first ever   NFT   purchase. The deal is clearly shows that, Visa is stepping into the world of NFTs with its purchase of   CryptoPunk 7610 .   Going forward, NFTs and Visa to align and integrate them in new brand strategy to gain a sizable market share. However, NFTs have often been compared to physical collectible items like rare trading cards and works of art.   The CryptoPunk 7610, which feBlatures a female punk with a mohawk and large green eyes. "We envision there could be a future where your crypto address becomes as important as your mailing address," Visa's Head of Crypto said.   An NFT - which stands for non-fungible token - is a unique digital asset designed to represent ownership of a virtual item. Unlike bitcoin and other cryptocurrencies, NFTs can’...
Read more

Prizm Payment Services changes its name to Hitachi Payment Services

Image
Hitachi Payment Services Pvt. Ltd has changed its corporate name from Prizm Payment Services Pvt. Ltd (“Prizm Payment Services”) to Hitachi Payment Services Pvt. Ltd (“Hitachi Payment Services”). “The new name reflects Hitachi’s commitment to business expansion in India, and to build a strong global financial payments offering leveraging the expertise of the Prizm Payment Services acquisition. Hitachi sees immediate potential to grow in the Asian subcontinent markets with the epicentre of growth being India, and migrate into other markets. Also, the name change will have no change on Prizm Payment Services’ operations,” said Loney Antony, Managing Director, Hitachi Payment Services. “Hitachi had acquired Prizm Payment Services with the aim of accelerating global development of IT services businesses targeting financial institutions, particularly in the fast-growing Asian region, and the company has been the gateway of entering into the services business in India for Hitachi. We ...
Read more