Chinese smartphone manufacturer Realme established its business in 2018. Now, it is one of the most popular smartphone brands in the budget and mid-range category. The company has achieved a new milestone by becoming the world’s fastest smartphone brand to cross 50 million shipments.
The research was conducted by Counterpoint which shows a 45% Year-over-Year (YoY) growth and 132% Quarter-on-Quarter (QoQ) growth. Whereas the Global smartphone shipments in Q3 2020 grew by 32% QoQ but declined by 4% YoY to around 380 million units. Top smartphone brands like Huawei, Apple, Vivo, and LG got impacted by the Covid-19 pandemic but the young brand Realme managed to defy the global market trend.
There is no doubt that Realme offers a good set of specifications at a very affordable price range. And, a solid marketing strategy helped the company to grow over 300% QoQ in the Indian smartphone market grabbing a 15% share. That’s not all, the company grew 196% YoY in the SEA region and 47% QoQ in the Philippines, Malaysia, Indonesia, Thailand, and Vietnam.
Realme currently sits among the top-5 brands in multiple countries which include India, Philippines, Malaysia, Indonesia, Thailand, Vietnam, Myanmar, Cambodia, Singapore, Russia, and Australia. In its homeland China, the company gained 90% QoQ growth in Q3 and reached 5th position in China’s 5G smartphone segment.
In recent times, Realme has been expanding towards other products as well such as smart TV, Watch, TWS, Smart camera, and more. As a result, TWS products from Realme grew by 45% QoQ in India grabbing 12% market share. The company is expected to double down its 1+4+N strategy (1 core smartphone + 4 smart hubs + N smart gadgets and accessories).