Indian smartphone manufacturer Lava Mobiles is in talks with the ministry of communication and information technology to establish a mobile phone factory in Egypt in 2019.
Mohamed Tahawy , Marketing head, said that Lava Mobiles is embracing an expansion plan that includes local manufacturing as one of its pillars, referring that the company is currently conducting the feasibility studies and identify the total investment costs of the project.
The company has already established two factories in India, one of which was opened in April 2015 and another in September 2016. Each factory produces 1m units per month, which the company aims to increase to 2m units in March, and has also introduced a tracking system to verify the quality of finished product.
Lava recently began selling its lower-cost mobile phones and smartphones in Egypt. The company is looking to snap up a 20% market share in the country by 2020.
Lava International Limited India revealed its vigorous plan to start driving major investments in the Egyptian mobile market to become a leading company in it by 2020.
The company also intends to establish 30 logistics center for technical support all of the governorates during 2018.
Moreover, Lava owns 11% of the handset market share in India and second place as a domestic brand; as such, the company plans to occupy a leading place in the Egyptian market mobile industry by 2020, seeking to achieve $100m in revenues annually through the sale of 3m devices.