India, Nov. 2 -- The mobile industry is going through a challenge in the form of global memory shortages, which are pushing up component prices in general and, consequently, Lava smartphone prices in India too are set to rise from November 15. For that matter a lot of brands have already increased the prices.

Unlike competitors that have revised prices without giving much notice, Lava is giving consumers a 15-day window before the price increase takes effect. This provides buyers with an opportunity to purchase a Lava smartphone at current prices before the increases kick in.

The main reason for this Lava smartphone price hike is the ongoing global memory chip shortage. The surge in demand for RAM and storage has driven up manufacturing...