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Li says 5G smartphones and offline expansion will drive most of the sales for the brand in India in 2024

Smartphone maker realme expects to increase sales in India by 10 per cent this year as it aspires to be among top five brands globally. The companys founder and CEO Sky Li said that the companys expectations from India are high this year, with key growth drivers strategically aligned. According to Counterpoint Research, realmes market share in India grew to 14.4 per cent in the third quarter of 2023 from 13.6 per cent a year ago.

“In terms of technological capabilities, we will increase the investment in research and development, and also capitalising on the needs of our young consumers. In addition to enhancing investment in imaging and design, artificial intelligence (AI) is also a key focus for us as well. In the near future, everyone will experience the AI capabilities of Realme products,” Xu said.

The company fell into turmoil in early 2023, hit by the exits of at least 16 senior executives - including Sheth, sales heads for online and offline channels, product managers, and corporate communications team - to spearhead Shenzhen-based smartphone firm Honors re-entry into India.

“In 2024, Realme aims to sell approximately 10 million smartphones (in India), with 7-8 million being 5G-enabled products through our offline channels,” he said, adding that one of the objectives of the company is to increase sales volume by 25% this year.

Realme: The executive also believes that financing schemes would be able to play a pivotal role in boosting accessibility and adoption rates within this said price range.

Realme: Narshimhan will lead the India operations working closely with the company’s headquarters in China, effectively becoming the face of the brand in the world’s second largest market after the departure of co-founder and chief executive Madhav Sheth in June 2023, executives added.

It has introduced offers worth Rs 800 crore on smartphones and AIoT products during the realme Festive Days sale this year

Realme: The company aims to fully localize production of hearables and wearables in India after achieving complete local manufacturing of smartphones and televisions, Li said.