Chinese smartphone manufacturer Realme has achieved a significant milestone by surpassing 100 million smartphone shipments in India in 2023, marking this achievement within just five years of its establishment. Realme's Vice President, Chase Xu, outlined the brand's strategic focus for the upcoming year, emphasizing enhancements in performance, photography, and design to further boost its sales trajectory.
Realme has successfully tapped into diverse market segments with its three series of smartphones. The C series is tailored for consumers seeking quality, design, and technology at an affordable price point. The number series targets the mid-range segment, offering advanced photography options. Lastly, the GT series is positioned in the high-end segment, prioritizing more advanced technology.
In addition to refining product offerings, Realme is placing emphasis on upgrading its brand image. The company aspires to position itself as a tech brand specifically catering to the needs and preferences of young consumers. Chase Xu highlighted this dual strategy of product innovation and branding upgrades as crucial for maintaining relevance in the dynamic Indian market.
Discussing the strategy for 2024, Chase, Realme's Vice President, revealed plans for collaboration with 30 technology partners to drive innovation and a substantial increase in Research & Development (R&D) investment.
"We will make a remarkable 470 per cent increase in R&D. This reflects our commitment to our technological capabilities. This also shows our ambition to move to the mid-high range segment in India's market," he stated.
Realme, headquartered in Shenzhen, China, established an R&D center in India last year to gather and coordinate customer input. The center aims not only to create gadgets and devices but also to build a comprehensive technology ecosystem, contributing to the 'Make in India' initiative and supporting localization. This move has resulted in the creation of 13,000 job opportunities in India.
Chase emphasized Realme's commitment to democratizing 5G technology in India, aligning with the increasing preference for 5G products among consumers. Regarding Artificial Intelligence (AI), he predicted that the integration of AI in smartphones would become a common feature, significantly enhancing the overall user experience.
On a global scale, Realme aims to secure a position in the top five smartphone brands. Currently ranked sixth globally, the company plans to focus on product excellence, brand enhancement, and technological advancements to achieve this goal.
(With Agency Inputs)
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