Realme, a prominent smartphone maker, has set a target of achieving a 10% increase in sales within the Indian market in 2024. The company’s founder and CEO, Sky Li, expressed confidence in this goal, citing the widespread adoption of 5G technology and the growing demand for value-centric offerings.
Realme aims to capitalise on the resurgent Indian smartphone market in 2024, driven by the increasing adoption of 5G technology and a focus on value-centric products. Despite global economic shifts and inflation, Realme has observed Indian consumers actively seeking enhanced value in smartphone deals, showcasing a keen interest in premiumization. With these factors in mind, Realme is targeting a 10% increase in sales within the Indian market.
Realme has been steadily gaining market share in India. According to Counterpoint Research, the company’s market share in India grew to 14.4% in the third quarter of 2023, up from 13.6% the previous year. This growth can be attributed to Realme’s diverse product portfolio, catering to varied consumer needs.
Realme’s commitment to innovation and collaboration plays a crucial role in achieving its sales target. The company recently unveiled the realme 12 Pro Series 5G, which emphasises premium features and camera innovation. Realme collaborated with Oscar-winning cinematographer Claudio Miranda to curate three camera filters for the latest smartphone series. This collaboration highlights Realme’s dedication to delivering cutting-edge technology and enhancing the photography experience for consumers.
RTM Watch’s Take
Realme’s goal of a 10% increase in sales within India in 2024 reflects the company’s confidence in the potential of the Indian smartphone market. With the widespread adoption of 5G technology and the growing demand for value-centric offerings, Realme is well-positioned to capitalise on these trends. The company’s focus on product innovation and collaboration further strengthens its competitive advantage. Realme’s commitment to providing enhanced value and premium features aligns with the preferences of Indian consumers, particularly the younger generation. As Realme continues to invest in research and development and introduce technology-driven products, it is likely to attract a larger customer base and achieve its sales target.
