Mobile phone maker Lava International is targeting to complete its proposed new plant projects by 2018 while commissioning its design centre by the end of 2017.
“We are looking at 2018 to commission our new plants. Meanwhile by the end of this year we will increase our production capacity to 2.5 million units. The company is expanding its production lines at its existing facility in Noida,” Solomon Wheeler, vice president of Lava International, told reporters in Chennai on Tuesday.
The Indian smartphone company has earmarked an overall investment of Rs 2,165 crore. The company plans to have a production capacity of 216 million units per annum in the next 5-8 years.
Lava InternationalA will be investing n two greenfield integrated manufacturing projects – one in north India at Yamuna Expressway, Uttar Pradesh and the other in Tirupati in Andhra Pradesh.
The technology company will set up a mobile phone design centre by the end of 2017.
Luke Prakash, senior vice president and hub head – South, said that the average selling price for the company’s phone is increasing steadily and is now around Rs 2,100 per unit. He said with the demand for smart phones going up, the average selling price realised by Lava International will also go up.