Lava mulling spinning off manufacturing arm into independent co

Domestic smartphone brand and contract manufacturer Lava International is considering an option to spin off its production arm into a separate company, which may generate business from other handset brands and help meet targets under the production-linked incentive (PLI) scheme for smartphones.

But the company, which has never been able to meet its PLI smartphone targets since the scheme began in 2020-21, is hopeful of a turnaround in its manufacturing fortunes with the upcoming incentive package for component production, head of manufacturing, Sanjeev Agarwal, told ET.