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 va