Realme Is Now India’s Fastest Growing Smartphone Brand
Chinese handset manufacturer Realme is now the fastest-growing smartphone brand in India, selling 15 million handsets in the first year of its operations, with targets to double the sales next year, its CEO Madhav Sheth has said.
Realme started as an OPPO sub-brand in May 2018, but soon after became a standalone entity. Unlike most other Chinese players in the country, who have investments in the offline space and channel marketing, Realme has actually focused on online from the start to emerge a winner.
According to media reports, MrSheth, who founded the company together with BBK Group founder Sky Li, said Realme is ranked seventh fastest-growing smartphone brand globally.
“We will end 2019, the first full year of our operations, with sales of 15 million handsets. We are targeting to at least double this in 2020,” he said.
According to industry data by IDC, the brand commands a 14.3 percent market share. Realme is now also the fourth biggest smartphone brand in India in the third quarter, according to IDC. According to IDC, Xiaomi is the market leader with a 27.1 percent share followed by Samsung (18.9 percent) and Vivo (15.2 percent) in the third quarter. Realme had a 3.1 percent market share in the third quarter of 2018.
According to MrSheth, Realme is present in 20 markets including China, Southeast Asia, Russia, Europe. He also stated that the company sold 5.2 million smartphones during the Diwali month alone.
Additionally, according to Counterpoint Research, Realme shipped 10 million smartphones in the third quarter of 2019, an 808 percent year-on-year growth in shipments. The report also says that Realmenow ranks seventh in the global smartphone market.
MrShethalso said the company plans to roll out an offline-only series for India which will be named by the end of this year. Aimed at the mid-premium range, the new series will focus more on all-rounder user experiences such as a better battery, touch, and feel (aesthetics).