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 company's founder and CEO Sky Li said on Monday.
Li, speaking at the launch of realme 12 Pro Series 5G, said that the company's expectations from India are high this year, with key growth drivers strategically aligned.
"As we anticipate a resurgent Indian smartphone market in 2024, fuelled by widespread 5G adoption and a focus on value-centric offerings, our goal is a 10 per cent increase in sales within the Indian market. Despite global economic shifts and inflation, we observe Indian consumers actively seeking enhanced value in smartphone deals, showcasing a keen interest in premiumisation," Li said.
According to Counterpoint Research, realme's market share in India grew to 14.4 per cent in the third quarter of 2023 from 13.6 per cent a year ago.
The company launched its premium smartphone realme 12 Pro Series 5G in the price range of Rs 25,999 to Rs 26,999 and realme 12 Pro+ 5G in the price range of Rs 29,999 to Rs 33,999 apiece under its "Number series" portfolio.
realme has collaborated with Oscar winner for best cinematography Claudio Miranda to curate three camera filters in the latest smartphone series.
The company has developed a proprietary MasterShot Algorithm developed in collaboration with Qualcomm for realme 12 Pro series 5G.
It has embedded 64MP (megapixel) periscope telephoto camera in realme 12 Pro+ 5G and 32 MP Sony IMX 709 telephoto camera, 50MP Sony IMX 882 main camera and 8MP ultra wide camera in realme 12 Pro 5G.
"realme's product lines, including the GT Series for high performance, number series for imaging and design, and C Series for essential functionality, cater to varied needs. Particularly in India, the Number Series, emphasizing photography, stands out as a hot product line. We are committed to increasing research and development investment and introducing technology that resonates with the preferences of the younger generation," Li said.