Smartphone maker Lava International plans to raise funds worth $200 million through overseas borrowings to part-finance its upcoming Rs 18 billion handset manufacturing unit in India.
At present, the company is in discussions with several state governments to finalise the location for establishing its planned manufacturing unit. Initially, Lava International plans to manufacture five million smartphones a month from its manufacturing unit and gradually scale-up the production to upto 12 million per month. The company plans to export more than 50 per cent of the total devices manufactured at the unit to key global markets, including Thailand, Bangladesh, Myanmar, Middle East, Africa and Mexico.
