Despite facing some stock issues, Realme on Friday said it is expecting sales of 90 lakh smartphones and 30 lakh Artificial Intelligence of Things (AIoT) products in the festive quarter.
The company has already sold 63 lakh units of smartphones and over 20 lakh AIOT products, among which more than 190,000 are TVs which is already a big number for a new player.
“We believe we could have done better since the market response is actually super high, but we are facing some stock issues with a few products,” Madhav Sheth, Vice President, Realme and CEO, Realme India & Europe, told IANS.
“Thanks to the love from the consumers, it reached our expectations but for Realme it’s always about ‘dare to leap'”, he added. “For the whole Q4, we are expecting sales of 9 million smartphones and 3 million AIoT products”. The year 2020 has been a watershed moment for the smartphone industry.
“We had cumulatively shipped over 50 million smartphones globally and are the fastest brand to achieve this,” Sheth said. “Among these, 30 million users come from India”.
Realme is currently the top online brand with a market share of 27 percent and captured the third spot in the overall India smartphone shipments with an 18 percent market share in September.
“I think the biggest key is always the product. Realme has always been a customer and product-centric brand that offers products catering to customers’ needs,” Sheth noted. Post-pandemic, consumer purchasing behavior has changed, swerving towards budget and mid-range segments, and Realme optimized product lines and launched new models for such consumers.
“For example, we redefined our entry-level Realme C series with new members to the C-series family, launched the youth flagship Realme 7 series, and brought the new performance-oriented narzo 20 series,” the Realm India head told IANS.
Some other factors also contributed, “like the expansion in offline, support from more promoters, accumulated word of mouth and brand favourability and No 1 quality from local manufacturing, etc,” he informed.