Realme reportedly sold over 15 million smartphones in the first year of operations. CEO Madhav Sheth has plans to double that figure in 2020. Realme launched in May 2018, and swiftly became a favorite with the Indian youngsters. Realme’s portfolio has emerged as a strong contender against seasoned players like Xiaomi and Samsung.
According to Sheth’s statement to PTI, “We conclude our business for 2019 by selling 15 million smartphones. We plan to double the figure in 2020”. Realme currently enjoys a 14.3 percent market share. Xiaomi is the undisputed winner with 27.1 percent, followed by Samsung with 18.9 percent and Vivo with a 15.2 percent share of the market in the third quarter.
Unlike other Chinese manufacturers like Oppo and Vivo, Realme adapted Xiaomi’s online-first strategy closely, helping it reach the fourth spot within one year of commencing business. Both Vivo and Oppo were busy focusing on channel marketing during its initial years. According to CEO Sheth, who co-founded Realme with BBK Electronics, Realme is the world’s seventh fastest-growing smartphone manufacturer.
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Starting its business from India, Realme currently operates in 20 global markets including China, Southeast Asia, Europe, and Russia. Realme sold 5.2 million smartphones in Diwali alone. Its best-selling models include the Realme 5, Realme 3i and Realme C2. According to Counterpoint Research, Realme exported over 10 million smartphones in Q3 2019, an 808 percent YoY growth in shipping since 2018.
Sheth confirmed Realme’s plans to launch exclusive models for offline stores in India, and the lineup will be revealed before the end of 2019. Designed for the mid-range, the new series will be an all-rounder with better aesthetics, battery, and performance. “Our focus is on designing trendy products with enhanced performance and a range of smart yet affordable accessories. Realme plans to emerge as a trendy lifestyle electronics brand for 2020” Sheth added.
Realme is hoping to garner 30% sales from the offline market and accumulate the remaining 70% from online stores. “We would like to clarify that Realme Mobile Telecommunications Private Limited is an independent brand and legal enterprise set up by Sky Li and me on May 4, 2018” Sheth added.
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