Realme started 2024 on a positive note and entered the top five Indian smartphone brands in 2023. The brand was even fourth overall in the quarter, capping off a successful year.
This success is highlighted by other milestones for the brand in 2023, celebrating its fifth anniversary and surpassing 200 million global shipments, confirming an exceptional growth trajectory.
Apart from the above, in 2023 Realme also ranked third in the Indian online smartphone market overall and for devices priced between Rs 10,000 and Rs 20,000. Additionally, in December, the brand ranked second on Amazon for smartphones in the same price range and retained the third position for delivery on Flipkart.
According to a Canalys report, Realme shipped a total of 17.4 million units in 2023, with a record 4.5 million units in Q4 alone, representing the highest share of offline shipments in the quarter. The brand has maintained a balanced investment across channels, with the Narzo range leading e-commerce, while the rest of the portfolio continues to dominate offline channels.
Over time, Realme has carved a niche for itself in the Indian smartphone market by offering devices that cater to Indian tastes by combining premium features with competitive pricing. This success led to a strategic shift for Realme from a "capability-based" approach to a "brand" approach as it plans its next five-year journey.
From the beginning, Realme's main focus has been to deliver high performance and innovative design, providing an amazing experience to young consumers around the world. Through continuous engagement and feedback over the past five years, Realme has refined its brand and product offerings to meet the evolving needs of its young audience.
Striving to become a technology leader that truly understands the needs of young users, Realme has shifted from a trend-based strategy to a more holistic approach. This change aims to expand reach rather than change direction, enabling it to connect with more young users in various global markets.
Realme's main goal is to transform itself into a technology brand that resonates deeply with young consumers. Realme's success in occupying the fifth place in the Indian smartphone market for devices priced between Rs 20,000 and Rs 30,000, either in the last quarter of 2023 or for the full year, is a testament to this progress, the agency said .
Realme has strategically positioned its growth engines to capitalize on the expected recovery in the Indian smartphone market in 2024. Rapid adoption of 5G technology and growing demand for value-based offerings are seen as key drivers of this recovery. Despite global economic fluctuations and inflationary trends, Indian consumers are actively seeking to increase the value of their smartphone purchases, indicating a strong propensity for differentiation.
Ranked among the top five smartphone brands in 18 countries across three key regions, Realme now aims to increase its position in the Indian market by 2024, with 10% sales growth as part of this ambitious target.
The brand said it aims to achieve this through a greater commitment to invest in research and development, with the aim of introducing innovative technologies that suit the tastes of younger generations. This focus on innovation is expected to drive Realme's continued growth and success in the Indian market.
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