Riding high on the success of new launches, realme, which is now among the top six global smartphone brands, is targeting to ship 300 million handsets by 2023, a top executive said on Wednesday.
According to Madhav Sheth – Vice President, realme, and Chief Executive Officer, realme India and Europe, the company will continue to focus on its core strength to provide users with the best product with the most value in its segment.
“realme’s expansion strategy is targeting 300 million handsets by 2023. We are aiming to achieve a dual 100 million by shipping another 100 million handsets by the end of 2022 and completing the same milestone within the 2023 calendar year,” – Madhav Sheth
According to market research firm Counterpoint, realme took the sixth spot with 15 million shipments and 135.1 percent year-over-year (YoY) growth in the second quarter of 2021.
Emphasizing India’s contribution the most that helped the company to become number six globally, Sheth asserted that they will be able to break into the top five brands globally next year.
“India is where realme started and also the region that contributed the most to become number six. realme has been the fastest brand to reach 100 million and 50 million are from India,” Sheth said.
“In the tech world, there are tons of stories of how an individual started from India and then conquered the world and realme is honoured to be one of them now. India is always a prioritised market for realme with many global debuts and exclusive products,” he added.
Per the CEO, out of 100 million users worldwide, 50 million are from India alone.
“Today, realme India contributes to more than 50 per cent of global revenues, making it one of the top-ranking markets worldwide. India has many other significance for realme,” Sheth said.
“India has also been the most important talent pool for realme whose talents have been playing important roles in global business decisions,” he added.
Amid the chipset shortage, the company is targeting six million handsets and two million AIoT products for the upcoming festive season.
Sheth mentioned that the whole industry is facing a chipset shortage, but Realme sensed this at the beginning of the year and has been working closely with chipset makers to prepare for this Diwali.
“There are many exciting products in the pipeline that will make festive celebrations special for young users. We are going to launch a premium flagship smartphone product soon,” Sheth noted.