Realme, currently the fourth-largest smartphone brand in India, has ambitious plans to become the top brand in the country and enter over 100 new markets in the next five years.
Sky Li, Realme’s founder and CEO, shared these goals in an interview with Mint. The company is focusing on the mid-premium segment, responding to the growing demand for feature-rich yet affordable smartphones.
“We want to increase our market share by regularly launching new products across different price ranges, catering to the diverse needs of Indian consumers,” Li said. Realme held a 12.5% share of the Indian smartphone market in the June quarter, following Xiaomi (18.9%), Samsung (18.8%), and Vivo (18.1%).
Realme plans to offer large memory options, improved product quality, and advanced AI features at competitive prices. Their AI-powered innovations will include better displays, optimized performance, and advanced camera features. “All our upcoming smartphones will have advanced AI capabilities,” Li said.
The company expects significant growth in the Indian smartphone market due to rising incomes, increasing internet use, and a young population.
Realme has already achieved success in India, becoming the top brand in the ₹20,000-30,000 segment on Flipkart in early 2024. They aim to replicate this success in other price segments. “The market has matured, offering budget-friendly yet feature-rich smartphones to a wide range of consumers. We see great potential in tier II and III towns,” Li said.
Realme plans to tailor its products to local preferences and create a unique niche to compete with brands like Vivo, Xiaomi, and Samsung. According to the Economic Survey 2024, India should encourage Chinese investments. Li said Realme is committed to innovation and skill development in India.
Realme has sold 200 million units worldwide and aims to enter 100 new markets in the next five years. Their success in Southeast Asia and Europe supports this aggressive growth strategy. In Southeast Asia, the popularity of mobile gaming influenced their strategy, helping them secure the #2 spot in the Philippines.
“Our dynamic and adaptable strategy, combined with deep consumer insights, has been key to our success in various markets,” Li added.
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