Lava plans to invest $114M in electronics components unit
The Indian mobile phone company will manufacture key smartphone components such as display modules, camera modules, multilayer PCBs and enclosures in the country as part of its localisation strategy.
Indian mobile phone manufacturer Lava International plans to invest INR 11 billion (about USD 114 million) over the next five years to expand its electronics components business, a move expected to generate 8,500 jobs and deepen local value addition in smartphone manufacturing, the company said.
The company will manufacture key smartphone components such as display modules, camera modules, multilayer printed circuit boards (PCBs) and enclosures in India as part of its localisation strategy, Lava executives said, according to a report by Financial Express.
“We have decided to make critical components ourselves for more value addition,” Sanjeev Agarwal, ED & CEO, Lava International, said. “We are exploring some partnerships for components, and we also have our own in-house strengths because we design our phones ourself.”
Lava International Managing Director Sunil Raina said that the company has submitted its components manufacturing proposal for the approval of the government under the Electronics Components Manufacturing Scheme, according to a report by Indian news agency PTI.