Realme had a strong start to 2024 and emerged as one of the top-5 smartphone brands in India in 2023. The brand also ranked fourth overall for the fourth quarter, concluding a successful year.
This success is underlined by other important milestones for the brand in 2023, celebrating its fifth anniversary and surpassing 200 million global shipments.
Apart from the above, Realme also secured the third position in India's online smartphone market in 2023 in terms of devices priced between Rs 10,000 to Rs 20,000. Additionally, in December, the brand achieved the second position on Amazon for smartphones within the same price range and the third position on Flipkart in terms of shipments.
According to a report by Canalys, realme shipped a total of 17.4 million units in 2023 with a record 4.5 million units in the fourth quarter alone, its highest offline shipment share in that quarter. The brand maintained a balanced channel contribution, with the Nazro series driven by ecommerce, while the rest of the portfolio remained dominated by offline channels.
Over time, realme has carved a niche for itself in the Indian smartphone market by offering devices tailored to Indian sensibilities with a combination of high-quality features and competitive pricing. This success brings about a strategic change for realme, which is changing from an opportunity-oriented to a brand-oriented vision. The company is planning its journey for the next five years.
Since its inception, realme's core objective has been to deliver powerful performance and innovative design while ensuring an enhanced experience for young global consumers. Through continuous engagement and feedback over the past five years, realme has refined its brand and products to meet the growing needs of its young audience.
Committed to being a technology leader that truly understands the needs of young users, realme has shifted from a trend-centric strategy to a more inclusive approach. The goal of this transformation is to expand its reach rather than change its direction, enabling connections with more young users in different global markets.
The company said, Realme's primary goal is to grow as a technology brand that deeply connects with young consumers. Testament to this progress is Realme's achievement of securing the fifth position in India's smartphone market for devices priced between Rs 20,000 to Rs 30,000 in both Q4 and full year 2023.
Realme strategically positions its growth factors to take advantage of the Indian smartphone market in 2024. Rapid adoption of 5G technology and increasing demand for value-focused offers are seen as the key drivers of this resurgence. Despite global economic fluctuations and inflationary trends, Indian consumers are actively pursuing premium value in smartphone purchases, indicating a strong inclination towards premiumization.
After being among the top-5 smartphone brands in 18 countries across three key regions, Realme is now focusing on taking its position further up in the Indian market by 2024, as part of this goal it will increase sales. A target of 10 percent growth has been set.
The brand said it plans to achieve this goal through increased commitment towards research and development investment, with the intention of introducing innovative technologies tailored to the younger generation. This emphasis on innovation is expected to fuel realme's continued growth and success in the Indian market.