ETTelecom Interviews: Realme to focus on mid high segment, expects 10% increase in sales in India in 2024 – ETTelecom

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ETTelecom Interviews: Realme to focus on mid high segment, expects 10% increase in sales in India in 2024, ET Telecom

Chinese smartphone maker Realme has chalked out a strategy to put an emphasis on the mid-high end segment and expects a 10% increase in sales target in the Indian market this year. In an interview with Mansi Taneja, Realme’s founder and CEO Sky Li says the plan is to offer a comprehensive product portfolio that caters to the diverse needs of Indian consumers by regular launches of new products across different price segments. Edited Excerpts

Many mobile consumers are shifting directly from 2G to 5G handsets via the second hand market. Are you focusing on entry level 5G smartphones? Or your plan is to be a leader in the mid range segment?

Realme has always been at the forefront of bringing new technology to customers, and being among the first to introduce 5G phones in India within an accessible price range is a testament to that commitment. We have strategically launched accessible 5G phones in the Rs 10-15k price range, which effectively caters to the mass market’s demands.

Accessibility is a key factor for customer sentiment, especially when it comes to adopting new technology like 5G which is why we prioritize making our products as accessible as possible without compromising on quality or features.

Our goal is not just to provide smartphones but to offer value-driven products that enhance the overall user experience. We anticipate a shift in consumer behavior where the decision to purchase isn’t solely influenced by the price point. Instead, consumers are looking for added value in design, imaging capabilities, battery life, and other tech parameters.

While we aim to be a leader in the mid-range segment, our broader vision is to make 5G technology accessible to everyone.

What is the strategy to enhance your presence in the Indian market? Number of launches and market share target for 2024?

Our strategy to bolster our presence in the Indian market is centered around a few key pillars, with a particular emphasis on the mid-high end segment. We aim to significantly increase our current market share and achieve this through regular launches of new products across different price segments. The goal is to offer a comprehensive product portfolio that caters to the diverse needs of Indian consumers. We expect a 10% sales increase target in India for 2024.

According to the latest report from Counterpoint Research, the mid-premium category of smartphones priced over Rs 30,000, earned a 20% volume share, the most ever recorded in the country.

Realme aims to concentrate more on the mid-premium segment, offering groundbreaking features at an accessible price point. Additionally, our ambitious plans include expansion into more than 100 new markets globally over the next five years.

Are you focusing more on online channels vs offline? How’s the strategy being planned?

We are focusing equally on both online and offline channels. Our distributors play a pivotal role in reaching out to our target audience, while our online channels help us connect with the young digital generation.

In terms of offline expansion, we are not just focused on increasing our footprint across metro cities, but also on enhancing the customer experience. We aim to create spaces where consumers can physically interact with our products, thus providing them with a hands-on experience before making a purchase. These strategic partnerships with leading e-commerce platforms enable us to cater to a wider customer base and meet the growing demand for our products.

The Indian mobile handset market is growing slowly or rather in single digits. In such a scenario, how do you plan to increase your market share?

The previous year was truly remarkable for Realme, as we experienced an impressive 51% quarter-on-quarter growth in Q2-2023, according to Counterpoint. This significant increase has further strengthened our standing in the Indian smartphone market. Our consistent efforts and inventive product offerings have enabled us to secure the second position among the top 10 smartphone brands, as per IDC’s Q3 2023 rankings.

We remain very bullish about the Indian smartphone market and this is reflected in how it is maturing. A Counterpoint Research report predicts a 3% increase in global smartphone shipments to 1.2 billion units in 2024, driven by emerging markets like India and the Middle East. While budget phones ($150-$249) are expected to lead growth, rebounding by 11%, the premium segment ($600-$799) is set for a 17% rise.

In 2023, our offline sales reached a total of 8 million, demonstrating the strength of our retail channel presence. This accomplishment highlights our ability to engage with customers across various platforms, thereby expanding our reach and influence.

You plan to launch a new GT series – will this be a gamechanger for you in the Indian market?

After 2 years, we are excited to announce the launch of our latest GT series in India, further strengthening our commitment to deliver cutting-edge technology to our customers. The new GT series, led by the groundbreaking GT 6T, is set to redefine standards in the smartphone industry and we believe it will be a gamechanger for realme in the mid-high market.

Our mid-premium segment, driven by realme’s Number Series and GT Series, has already achieved a 5% market share, growing by an impressive 27% YoY. With the introduction of the GT series, we aim to cater to the evolving needs of our tech-savvy customers, offering them advanced features and innovative technology.
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“Our strategy to bolster our presence in the Indian market is centered around a few key pillars, with a particular emphasis on the mid-high end segment. We aim to significantly increase our current market share and achieve this through regular launches of new products across different price segments.”

Mansi Taneja

  • Updated On May 13, 2024 at 11:40 AM IST

Chinese smartphone maker Realme has chalked out a strategy to put an emphasis on the mid-high end segment and expects a 10% increase in sales target in the Indian market this year. In an interview with Mansi Taneja, Realme’s founder and CEO Sky Li says the plan is to offer a comprehensive product portfolio that caters to the diverse needs of Indian consumers by regular launches of new products across different price segments. Edited Excerpts

Many mobile consumers are shifting directly from 2G to 5G handsets via the second hand market. Are you focusing on entry level 5G smartphones? Or your plan is to be a leader in the mid range segment?

Realme has always been at the forefront of bringing new technology to customers, and being among the first to introduce 5G phones in India within an accessible price range is a testament to that commitment. We have strategically launched accessible 5G phones in the Rs 10-15k price range, which effectively caters to the mass market’s demands.

Accessibility is a key factor for customer sentiment, especially when it comes to adopting new technology like 5G which is why we prioritize making our products as accessible as possible without compromising on quality or features.

Our goal is not just to provide smartphones but to offer value-driven products that enhance the overall user experience. We anticipate a shift in consumer behavior where the decision to purchase isn’t solely influenced by the price point. Instead, consumers are looking for added value in design, imaging capabilities, battery life, and other tech parameters.

While we aim to be a leader in the mid-range segment, our broader vision is to make 5G technology accessible to everyone.

What is the strategy to enhance your presence in the Indian market? Number of launches and market share target for 2024?

Our strategy to bolster our presence in the Indian market is centered around a few key pillars, with a particular emphasis on the mid-high end segment. We aim to significantly increase our current market share and achieve this through regular launches of new products across different price segments. The goal is to offer a comprehensive product portfolio that caters to the diverse needs of Indian consumers. We expect a 10% sales increase target in India for 2024.

According to the latest report from Counterpoint Research, the mid-premium category of smartphones priced over Rs 30,000, earned a 20% volume share, the most ever recorded in the country.

Realme aims to concentrate more on the mid-premium segment, offering groundbreaking features at an accessible price point. Additionally, our ambitious plans include expansion into more than 100 new markets globally over the next five years.

Are you focusing more on online channels vs offline? How’s the strategy being planned?

We are focusing equally on both online and offline channels. Our distributors play a pivotal role in reaching out to our target audience, while our online channels help us connect with the young digital generation.

In terms of offline expansion, we are not just focused on increasing our footprint across metro cities, but also on enhancing the customer experience. We aim to create spaces where consumers can physically interact with our products, thus providing them with a hands-on experience before making a purchase. These strategic partnerships with leading e-commerce platforms enable us to cater to a wider customer base and meet the growing demand for our products.

The Indian mobile handset market is growing slowly or rather in single digits. In such a scenario, how do you plan to increase your market share?

The previous year was truly remarkable for Realme, as we experienced an impressive 51% quarter-on-quarter growth in Q2-2023, according to Counterpoint. This significant increase has further strengthened our standing in the Indian smartphone market. Our consistent efforts and inventive product offerings have enabled us to secure the second position among the top 10 smartphone brands, as per IDC’s Q3 2023 rankings.

We remain very bullish about the Indian smartphone market and this is reflected in how it is maturing. A Counterpoint Research report predicts a 3% increase in global smartphone shipments to 1.2 billion units in 2024, driven by emerging markets like India and the Middle East. While budget phones ($150-$249) are expected to lead growth, rebounding by 11%, the premium segment ($600-$799) is set for a 17% rise.

In 2023, our offline sales reached a total of 8 million, demonstrating the strength of our retail channel presence. This accomplishment highlights our ability to engage with customers across various platforms, thereby expanding our reach and influence.

You plan to launch a new GT series – will this be a gamechanger for you in the Indian market?

After 2 years, we are excited to announce the launch of our latest GT series in India, further strengthening our commitment to deliver cutting-edge technology to our customers. The new GT series, led by the groundbreaking GT 6T, is set to redefine standards in the smartphone industry and we believe it will be a gamechanger for realme in the mid-high market.

Our mid-premium segment, driven by realme’s Number Series and GT Series, has already achieved a 5% market share, growing by an impressive 27% YoY. With the introduction of the GT series, we aim to cater to the evolving needs of our tech-savvy customers, offering them advanced features and innovative technology.

  • Published On May 13, 2024 at 11:40 AM IST

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Chinese smartphone maker Realme has chalked out a strategy to put an emphasis on the mid-high end segment and expects a 10% increase in sales target in the Indian market this year. In an interview with Mansi Taneja, Realme’s founder and CEO Sky Li says the plan is to offer a comprehensive product portfolio that caters to the diverse needs of Indian consumers by regular launches of new products across different price segments. Edited Excerpts

Many mobile consumers are shifting directly from 2G to 5G handsets via the second hand market. Are you focusing on entry level 5G smartphones? Or your plan is to be a leader in the mid range segment?

Realme has always been at the forefront of bringing new technology to customers, and being among the first to introduce 5G phones in India within an accessible price range is a testament to that commitment. We have strategically launched accessible 5G phones in the Rs 10-15k price range, which effectively caters to the mass market’s demands.

Accessibility is a key factor for customer sentiment, especially when it comes to adopting new technology like 5G which is why we prioritize making our products as accessible as possible without compromising on quality or features.

Our goal is not just to provide smartphones but to offer value-driven products that enhance the overall user experience. We anticipate a shift in consumer behavior where the decision to purchase isn’t solely influenced by the price point. Instead, consumers are looking for added value in design, imaging capabilities, battery life, and other tech parameters.

While we aim to be a leader in the mid-range segment, our broader vision is to make 5G technology accessible to everyone.

What is the strategy to enhance your presence in the Indian market? Number of launches and market share target for 2024?

Our strategy to bolster our presence in the Indian market is centered around a few key pillars, with a particular emphasis on the mid-high end segment. We aim to significantly increase our current market share and achieve this through regular launches of new products across different price segments. The goal is to offer a comprehensive product portfolio that caters to the diverse needs of Indian consumers. We expect a 10% sales increase target in India for 2024.

According to the latest report from Counterpoint Research, the mid-premium category of smartphones priced over Rs 30,000, earned a 20% volume share, the most ever recorded in the country.

Realme aims to concentrate more on the mid-premium segment, offering groundbreaking features at an accessible price point. Additionally, our ambitious plans include expansion into more than 100 new markets globally over the next five years.

Are you focusing more on online channels vs offline? How’s the strategy being planned?

We are focusing equally on both online and offline channels. Our distributors play a pivotal role in reaching out to our target audience, while our online channels help us connect with the young digital generation.

In terms of offline expansion, we are not just focused on increasing our footprint across metro cities, but also on enhancing the customer experience. We aim to create spaces where consumers can physically interact with our products, thus providing them with a hands-on experience before making a purchase. These strategic partnerships with leading e-commerce platforms enable us to cater to a wider customer base and meet the growing demand for our products.

The Indian mobile handset market is growing slowly or rather in single digits. In such a scenario, how do you plan to increase your market share?

The previous year was truly remarkable for Realme, as we experienced an impressive 51% quarter-on-quarter growth in Q2-2023, according to Counterpoint. This significant increase has further strengthened our standing in the Indian smartphone market. Our consistent efforts and inventive product offerings have enabled us to secure the second position among the top 10 smartphone brands, as per IDC’s Q3 2023 rankings.

We remain very bullish about the Indian smartphone market and this is reflected in how it is maturing. A Counterpoint Research report predicts a 3% increase in global smartphone shipments to 1.2 billion units in 2024, driven by emerging markets like India and the Middle East. While budget phones ($150-$249) are expected to lead growth, rebounding by 11%, the premium segment ($600-$799) is set for a 17% rise.

In 2023, our offline sales reached a total of 8 million, demonstrating the strength of our retail channel presence. This accomplishment highlights our ability to engage with customers across various platforms, thereby expanding our reach and influence.

You plan to launch a new GT series – will this be a gamechanger for you in the Indian market?

After 2 years, we are excited to announce the launch of our latest GT series in India, further strengthening our commitment to deliver cutting-edge technology to our customers. The new GT series, led by the groundbreaking GT 6T, is set to redefine standards in the smartphone industry and we believe it will be a gamechanger for realme in the mid-high market.

Our mid-premium segment, driven by realme’s Number Series and GT Series, has already achieved a 5% market share, growing by an impressive 27% YoY. With the introduction of the GT series, we aim to cater to the evolving needs of our tech-savvy customers, offering them advanced features and innovative technology.
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