Realme eyes 25 percent market share in India this Diwali season

The festive season is round the corner after a lacklustre second quarter owing to the lockdowns and smartphone brand Realme is aiming to capture 20-25 per cent of overall market share during the upcoming holiday sales, Madhav Sheth, Vice President, Realme and CEO, Realme India & Europe said on Thursday.

After launching two new handsets -- Realme 7 and 7 Pro with quad rear cameras � in the country, Sheth said the company has exciting new launches in the pipeline.

"We are quite optimistic about registering healthy volumes. We aim to be the No 1 online brand in India and are aiming 20-25 per cent of overall market share during the festive season," he told IANS.

After a steep decline of over 50 per cent in Q2, the India smartphone market is set for a gradual recovery in the second half as the country enters the festive season, the IDC India said recently.

Overall, the June quarter saw a sharp year-over-year decline of (-50.6 per cent) to 18.2 million units, as the country remained under lockdown through the first half of the quarter.

According to Sheth, there has been a steady revival in consumer demand since the lockdown restrictions were relaxed.

"We have witnessed strong sales across our smartphones, AIOT (Artificial Intelligence of Things) especially TWS (true wireless stereo) categories.

"This is the right time to launch feature-rich products with segment leading technologies across price points, to offer consumers a wide range of options in the run-up to the festive season," he said.

Realme Number and Pro series has always been renowned as 'Youth' flagship, providing omnipotent features for young generations who desire fantastic overall experience like brilliant camera and latest technology.

"Realme 7 Pro, India's fastest charging 64MP flagship, is targeting users who would prefer a great comprehensive flagship experience," Sheth said.

The smartphone brand added 15 million users in the first half of 2020 despite the challenges it faced due to the Covid-19 pandemic.

The company was one of the only two brands to have registered positive shipments growth in Q1 of this year, with 157 per cent increase year-over-year, according to data by Counterpoint Research.

Realme said it is on track to launch over 50 Artificial Intelligence of Things (AIoT) products this year and is preparing to add over 100 AIoT products to its portfolio in the next year.