Eyeing a bigger share in the booming mobile handset market,domestic firm Lava International yesterday said it has successfully incorporated the new currency (Rupee) symbol in its handsets.

Lava B5 is the first such mobile handset, which has a dedicated key to type the new Indian currency symbol.

"That means while you are writing an email or sms you don't have to type Rs or Rupees, by pressing one key the new Indian currency symbol will appear on the screen," S N Rai, Co-Founder and Director Lava International Limited said.

Announcing this on the 64th Independence Day, Rai said design innovation and capability to bring new features is the firm's main strength.

Lava has invested over Rs 110 crore in setting up a design lab each in India and China and is also looking at a manufacturing facility in the near future.

The unique selling point of B5 ALPHA is its Alpha Keypad.

With the innovation, lava offers an option to a large segment of people, who are either unfamiliar or uncomfortable with querty keypads. The objective behind the Alpha keypad phone is to make texting and e-mailing convenient and faster.

The company claims to be the fourth largest player in the Indian market and Rai said during the first year of its inception since June last year, the firm has registered a turnover of Rs 700 crore. For this year it has set a target of Rs 1,000 crore revenue.

Products of Lava are available in the range of Rs 1,400 to Rs 6,000. The average price of its handsets is Rs 2,500 and they are available in all regional languages.

The company is also in talks with several CDMA players for selling its product. It is all set to roll-out its 3G enabled handsets and Android, an operating system for mobile devices, in the coming months.