Braving the Winds: Realme Optimistic For Healthy Growth Despite Pandemic Hex

Must Read

Hands-Free Resources: How Businesses Are Using AR to Make Workplaces Safe and Productive

The role of efficiency and ease in the modern world has become forefronted when it comes to technology, particularly...

Top Countries by App Downloads Q2 2021: India Dominates With 7 Billion+ Downloads [REPORT]

As the adoption of smartphones and the Internet has increased over the last decade, so has the number of...

TikTok Is Now The World’s Most Popular Non-Facebook App With Record 3 Billion Downloads!

When you think of the world's most popular apps, the first name comes into your mind: Facebook. If not,...

Spun-off into a standalone entity from being Oppo’s sub-brand, Realme has burst through the ranks to catch everyone’s attention. Showing fleet of foot in growth, it has successfully created a unique niche for itself. And being a vessel that is gathering steam every passing day, it has forecasted steady numbers ahead, even under the pandemic disruption.

Even as 2020 has been rocked with pandemic induced lockdown and supply chain punctuations, on-the-rise smartphone company Realme is optimistic of recording a 25%-30% YoY growth for its smartphone business.

Buoyed by the sale of 6.3 million smartphones during the festive month till November 15, the brand has set its sight to sell 2.5 million more smartphone units, taking the overall figure closer to 8.5-9 million mark by the end of December 2020.

Advertisements

Not just the smartphones, but the company is also looking to further the sales of their AIoT devices to the 3 million mark, having had an encouraging sale of 2 million of these devices in the festive period.

As have Chinese companies before it, Realme has also primarily targeted the affordable price segment for its Indian contingent of users. However, owing to their stupendous rise, it has managed to make slight increments in the average selling price of their smartphone models, bringing them over to Rs 11,000.

All the positivity on Realme’s part looks to be well backed by solid facts too. Presently, the Beijing-based company is the fourth-largest smartphone brand in India, with a 15% market share as of Q3 2020.

The company has put in a slew of consistent performances every quarter, growing by no less than 157% YoY in Q1 of 2020, before the pandemic struck businesses. However, as the company’s motto says “Never settle”, what ambitions does it hold for the coming future?

The ambition ahead

Realme was India’s fastest growing smartphone brand by selling over 16 in 2019, with 263.5% YoY growth. But going by the words of the top brass at the company, the IoT business is one that will be in the thick of things in the coming year. Not surprisingly, seeing as how Realme’s non-smartphone business has grown significantly and is expected to contribute over 10% towards overall revenues for 2020.

Advertisements

The company plans to go “deeper and wider” next year, with audio, wearable, and smart TV portfolio at the center of the forays. Plans for smart TV are on the cards too. Indeed, as things stand, the company looks set to add a new dimension to itself by aiming to become a leading tech-lifestyle brand in the coming years.

Up the rungs

Seeing the growth that the company has achieved, and the foothold it has established, it is incredible to see that it is after all only a two-year-old company. With products bearing excellent value, ever since its launch, its portfolio has grown to encompass a reel of budget banquet features, all at competition-beating prices. That is the template that has seen it rise to the seventh most popular brand globally. The company’s pandemic-beating performance is also a testament to organized infrastructure, and due to which it is now closing in on Samsung’s current third-place ranking.

From riding on the success of Oppo to making inroads in the smart sector, Realme is surely going strength to strength. Commanding a sizeable market share and clawing at the back of the rivals, this is one player whose ascent doesn’t look at stopping soon.

Stay tuned for more updates.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

A Big Blow To Amazon and Flipkart: CCI Investigation To Continue

Flipkart and Amazon continue to find themselves in hot water as their plea against the investigation that is being...

In-Depth: Dprime

Will ‘TikTok By Microsoft’ Be A Winner?

For the last two years, TikTok has been in the public eye for all sorts of reasons. First, it was the exploded and unparalleled...

Facebook Subscription Model: Looking Beyond Ad Dollars?

Seldom do job listings create a stir this gripping. However, when the job listing in question is a stealth post from Twitter, with a...

Will The Online Food Delivery Market in India End Up Becoming A Two-Horse Race?

It's pretty much evident that the food delivery space in India is all set to get riled up soon enough as one of the...

More Articles Like This