The new portfolio of products could include one device above Rs 10,000, marking the entry of the brand in a new price segment as it looks to give Chinese brands dominating the India smartphone market some competition, industry sources told IANS.

Currently, the brand offers smartphones only in the lower range segment, under Rs 8,000.

To cater to different customer groups, Lava is likely to launch the phones in a variety of price segments – under Rs 6,000, Rs 6,000-Rs 8,000, Rs 8,000-Rs 10,000 and the Rs 10,000+ segment.

Significantly, the fresh portfolio could have a "designed in India" smartphone as the brand is focusing on designing smartphones for the past one year.

Responding to Prime Minister Narendra Modi's "Local ke liye Vocal" call, Lava announced in May that it plans to shift its entire mobile R&D, design and manufacturing for the export market from China to India.

Lava exports over 33 per cent of its phones to markets such as Mexico, Africa, Southeast Asia and West Asia.

As part of the transition, Lava will invest around Rs 80 crore this year and subsequently around Rs 800 crore over the next five years.

The move came after the Indian mobile phone manufacturers gained a significant cost advantage over China from the Production Linked Incentive Scheme (PLI) scheme announced by the government last month.