Chinese smartphone brand realme was established in August 2018. Since its early days, the company has broken so many records. Now, a little over two years from its inception, realme has become the world’s fastest brand to hit 50 million shipments in Q3 2020. Most interestingly, the firm achieved this feat amidst the global pandemic.
According to research firm Counterpoint Research, realme grew a whopping 132% QoQ and 45% YoY in the third quarter of 2020. Not only that, the brand also hit 50 million shipments in the same period.
Similarly, the global smartphone market grew by 32% QoQ in Q3 2020, however, it declined by 4% YoY. Also, top OEMs like Huawei, Apple, OPPO, vivo, and LG registered YoY declines in the same quarter. However, as mentioned above, realme exceeded expectations despite global economic slowdown due to the pandemic.
That’s not all, realme grew 300% QoQ in the Indian smartphone market and 47% QoQ as well as 197% YoY in the SEA region. As a result, the company is also one of the top 5 largest smartphone brands in a number of countries like India, Philippines, Malaysia, Indonesia, Thailand, Vietnam, Myanmar, Cambodia, Singapore, Russia, and Australia.
Whereas, in its home country China, realme came sixth in Q3 with a 90% QoQ growth. In China, the brand was popular in the last quarter because of its budget 5G smartphones. In fact, the company helped to bring down the price of 5G handsets to $150.
In the coming quarters, realme is expected to double down on its 1+4+N strategy by releasing a wide variety of connected products. The brand’s strategy is already doing well in India where it grew 45% QoQ in the TWS category gaining a 12% market share in Q3 2020.
The firm even ranked third in this segment with two of its most affordable models entering the top 5 list. It is also expected to enter top 5 in more European countries
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