![\"\"](\"\/\/www.iser-br.com\/Themes\/Release\/images\/responsive\/ettelecom-default.jpg\")
“We sold 20 million smartphones in 2022 which includes 3.2 million 5G smartphones in 2022. This year, we are targeting to sell 20 million smartphones including 7 million 5G-enabled products. We already have 25 5G-enabled devices<\/a> in our portfolio, and will have new additions to it soon,” Madhav Sheth<\/a> - CEO Realme India, VP, Realme and President, Realme International Business Group<\/a> told ET.
Realme slipped to fourth place in 2022, with a 14% YoY decline due to higher exposure to the sub-Rs 10,000 segment, where demand was most affected. As per Counterpoint, Realme's growth in 2022, was hampered by inventory build-up, unfavorable market conditions in the sub-Rs 10,000 segment, and economic headwinds.
However, the brand is now focusing on mid-tier and 5G as it launched its number series towards the end of the year with all 5G SKUs in the Rs 15,000 segment.
“As this year marks our fifth year in the industry, we plan to create and innovate more products that appeal to our customers, strengthen our services and keep the sales momentum going,” Sheth added.
In 2022, the company reached a consumer base of 70 million in India while globally the number crossed 160 million.
“We are a global brand and our goal is to provide innovative and high-quality technology to our customers at reasonable prices, and we have been able to achieve this by expanding our operations worldwide. That being said, there are certainly some countries where Realme has performed particularly well. India, for example, has been a key market for us since our inception, and we have consistently ranked among the top smartphone brands in the country,” Sheth added.
Realme, according to him, also saw strong growth in other Asian countries such as Indonesia, Nepal and Philippines. “In addition, we have been gaining traction in some European countries such as Poland, Greece, etc. Of course, our success in each country is dependent on a number of factors. We are constantly evaluating and adapting our strategies to ensure we are meeting the needs of our customers and staying ahead of the curve.”
Sheth said that the company entered the second stage of growth in 2022 and is now more focused on targeted and sustainable growth. Under this, it implemented our 'Market Cultivation' strategy, which is aimed at building local teams and utilizing local resources. “We believe that this strategy will enable us to bring a greater end-to-end product experience to our users,” Sheth added.
Realme is increasing its focus on research and development (R&D) by setting up a dedicated institute - Realme Global Institute of Leap-forward Technology - in its head office, and a specialised branch in India which will work on technologies such as fast charging.