realme started 2024 on a strong note, having emerged as among India’s top five smartphone brands for 2023. The brand even went on to clinch the fourth spot overall for Q4, capping off a successful year.
This success is further underscored by the brand’s other significant milestones in 2023: celebrating its fifth anniversary and surpassing 200 million global shipments, underscoring its remarkable growth trajectory.
In addition to the above, realme also secured the third position in India’s online smartphone market, both overall and for devices priced between Rs 10,000-Rs 20,000 in 2023. Furthermore, in December, the brand claimed the second spot on Amazon for smartphones within the same price range and held the third position by shipment on Flipkart.
As per a report by Canalys, realme shipped a total of 17.4 million units in 2023, with a record 4.5 million units in Q4 alone, marking its highest offline shipment share in that quarter. The brand maintained a balanced channel contribution, with the narzo series being driven by ecommerce, while the rest of the portfolio continued to dominate offline channels.
Over time, realme has carved a niche in the Indian smartphone market by offering devices that align with Indian sensibilities, combining high-quality features and competitive pricing. This success has led to a strategic shift for realme, transitioning from an “opportunity-oriented” to a “brand-oriented” approach as it charts its next five-year journey.
Since inception, realme’s core aim has been to deliver powerful performance and innovative design, ensuring a superior experience for young global consumers. 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 youthful audience.
Committed to becoming a tech pioneer that truly understands the needs of young users, realme has transitioned from a trend-centric strategy to a more inclusive approach. This shift aims to expand its reach rather than alter its direction, enabling connections with more young users across various global markets.
realme’s primary goal is to morph into a tech brand that deeply resonates with young consumers. A 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-Rs 30,000, both in Q4 2023 and throughout the year, said the company.
realme has strategically positioned its growth factors to leverage the expected revival of the Indian smartphone market in 2024. The rapid adoption of 5G technology and the growing demand for value-focused offerings are seen as key drivers of this resurgence. Despite global economic fluctuations and inflationary trends, Indian consumers are actively pursuing enhanced value in smartphone purchases, indicating a strong inclination towards premiumization.
Having ranked among the top five smartphone brands in 18 countries across three major regions, realme is now setting its sights on further elevating its position in the Indian market for 2024, targeting a sales increase of 10 per cent as part of this ambitious goal.
The brand said it plans to achieve this goal through an increased commitment to research and development investment, intending to roll out innovative technologies that align with the tastes of the younger generation. This emphasis on innovation is anticipated to fuel realme’s ongoing growth and success within the Indian market.