Cairo – Mubasher: Lava International is planning to pump $10 million investments into Egypt over the coming year.
The Indian company is seeking to compete in the Egyptian market with below-$250 mobile phones and to transfer its manufacturing experience to the North African country, Almal news reported, citing Lava’s chairman Hari Om Rai as saying.
Moreover, Vikram Singh Parmar, the company’s chairman in Egypt and Africa said that the company aims at acquiring the second rank in Egypt’s mobile phones market after Samsung.
The company targets selling three million phones, as well as generating annual revenues of $100 million, Parmar continued.
Lava International is getting ready to launch nine mobile phones in Egypt in January 2018, including smartphones and regular cell phones.
