While the global smartphone market declined 1% YoY in Q4 2020, smartphone manufacturer Realme, founded in 2018, has just been named by Counterpoint’s Q4 2020 smartphone report to be the fastest-growing brand globally. “At realme, we follow our philosophy dare to leap into the forefront of innovation, design and product value, which is something that young people can resonate.’ says Madhav Sheth, Vice President, realme and Chief Executive Officer, realme India & Europe
The company shipped over 42.4 million units in the year 2020 compared to 25.7 in the previous year, and the market share increased by 1.5 times which is from 2 percent to 3 percent in 2020. Moreover, realme became the fastest-growing brand for the year, growing 65% YoY in shipment volume. Previously, realme was named the fastest brand to ship over 50 million units since its inception.
realme, whose slogan is ‘Dare to Leap’, adopts a strategy of selling leapfrog performance and trendy design-driven quality products that resonate with its young crowd at an affordable and attractive price point. “With its efforts to bring the affordable yet premium-like products to consumers, as well as its ability to offer smooth digital shopping and after-sales services in different countries, realme has emerged as the most resilient brand during and after the pandemic crisis“, Research Analyst Abhilash Kumar commented on realme’s performance. realme’s trendsetting image and product reputation has contributed to building customer trust and brand awareness.
“At realme, we live out our philosophy, which is to dare to leap into the forefront of innovation, design and product value, which is something young people can identify with,‘ says Sky Li, realme’s CEO. Though young, realme has won five top international design awards and collaborated with world-class notable designers on its products through the realme Design Studio. realme has also delivered on technological innovation, being one of the first company to utilize the Snapdragon 865/765G processor and introducing the 64MP camera on a phone. More importantly these innovations has enabled realme to introduce 5G-enabled smartphones to youths and young consumers, increasing its popularity and reputation in numerous markets internationally.
