Realme, a global emerging consumer technology company, has achieved a remarkable milestone of 100 million smartphone sales in India in just five years of its inception. The brand has also become the fastest smartphone brand to reach this feat globally, according to Strategy Analytics. In this article, we will look at how Realme has achieved this success and what are its plans for 2024.
How Realme became a leading smartphone brand in India
Realme entered the Indian market in 2018 as a sub-brand of Oppo, but soon became an independent entity with its own identity and vision. The brand focused on catering to the diverse needs and preferences of young consumers, who are looking for quality, design and technology at affordable prices. Realme offers three series of smartphones: the C series for the budget segment, the number series for the mid-range segment and the GT series for the high-end segment.
Realme has also been quite aggressive with its 5G push, leading the market in 5G smartphone shipments with more than 22% share in Q2 2021, as per Counterpoint. The brand was one of the first to introduce 5G phones under US$200 and has launched several 5G models across different price segments.
Realme has also invested heavily in R&D, innovation and branding. The brand has established an R&D centre in India to gather and coordinate customer input and to support localisation. It has also collaborated with 30 technology partners for innovation and made a remarkable 470% increase in R&D spending in 2024. Moreover, Realme has upgraded its branding strategy to become a tech brand that caters specifically to young consumers, with a focus on performance, photography and design.
What are Realme’s plans for 2024
Realme’s CEO and founder, Sky Li, has said that the brand expects a 10% sales increase in India for 2024, despite the market fluctuations caused by COVID-19. He also said that Realme is aiming to enter into the top five smartphone brands globally, from its current sixth position.
To achieve these goals, Realme will continue to focus on product excellence, brand enhancement and technology advancement. The brand will launch more products with advanced features and technologies, such as AI, IoT and AR/VR. It will also strengthen its online and offline channels, expand its service network and enhance its customer satisfaction. Furthermore, Realme will continue to democratize 5G technology in India and explore new opportunities in emerging markets.
Realme’s success story in India is an example of how a young brand can disrupt a well-entrenched industry with its entrepreneurial spirit and untamed growth. The brand has shown that it can deliver on its promise of “Dare to Leap” and provide consumers with products that exceed their expectations