A new report has just revealed interesting information about the 5G Android smartphone market. The segment has seen great growth in recent times, with Realme taking the crown for being fastest growing brand in the market.
According to a Counterpoint Research report, the Chinese smartphone brand saw a massive 831 percent growth in the third quarter of this year. The sizeable jump was thanks to its great performance in regions like India, China, and Europe. Counterpoint added that the brand even managed to out pace the market with its 5G smartphones sales growing 831 percent year on year, which is a lot higher than the global rate of 121 percent.
Varun Mishra, Senior Director at Counterpoint noted that “realme with its strong multi channel strategy and a wide 5G portfolio across price-bands helped it grow the fastest.” Similarly, the smartphone maker’s CEO and Founder Sky Li said that “Our goal is to help at least 100 million young people worldwide to enjoy the benefits brought by 5G technology with 5G powered smartphones at the core.”
As of right now, the company is also the world’s fifth largest Android smartphone maker. In other words, its overall growth can also be attributed to its strong focus on 5G technology. Realme has invested heavily in 5G smartphones’ research and development while also seeking to diversify its product line as well. So despite being a “young” company compared to some of its rival tech giants, it has still managed to acquire an overall 5G phone market share of 15.5 percent in Q2 2021.
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