The Chinese smartphone brand Realme has achieved a significant milestone by surpassing 100 million smartphone sales in the Indian market since its entry in 2018. This growth has solidified Realme as the second-largest smartphone brand in India with a 51% growth in Q2 2023. Sky Li, the founder and CEO of the company, is optimistic about further growth in the coming year as the market recovers from the slump experienced in 2023.
Realme attributes its success to its continuous efforts and innovative offerings. The company is committed to expanding its distribution of diverse product lines to markets worldwide through its export plan. It aims to make 5G devices more accessible to consumers, particularly at affordable prices. Realme has already made a mark in the sub-₹10,000 smartphones category and has introduced 5G smartphones under ₹15,000. The company’s goal is to democratize 5G technology and ensure that it is accessible to all consumers.
In line with the Indian government’s Make in India initiative, Realme plans to expand its local manufacturing capacities. Currently, 60-70% of phone components are sourced locally. The company intends to extend this approach to the production of wearable devices. This strategy aligns with India’s economic objectives of promoting local manufacturing, job creation, and market growth.
To strengthen its presence further, Realme is focusing on expanding its offline retail channel. The company has already achieved 8 million smartphone sales through these channels and aims to introduce new models, technologies, and partnerships with top international technology partners in 2024.
With impressive sales figures and strategic plans, Realme is well-positioned for continued success in the Indian market. The brand is committed to consistently offering consumers innovative and affordable smartphones nationwide.
FAQ
1. What is Realme?
Realme is a Chinese smartphone brand that gained popularity in the Indian market since its entry in 2018. It focuses on offering innovative and affordable smartphones to consumers.
2. Is Realme the largest smartphone brand in India?
No, Realme is currently the second-largest smartphone brand in India, following its recent milestone of surpassing 100 million smartphone sales.
3. What is the Indian government’s Make in India initiative?
The Make in India initiative is an Indian government campaign launched to encourage domestic manufacturing and promote job creation in the country.
Sources: www.example.com
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