Realme is well-known for phones priced around Rs. 25,000, and after a brief hiatus, it has returned to the premium segment with the Realme GT 2 Pro. Even though there are options under Rs. 15,000 in the country, the company believes it will be difficult for the market to bring sub- Rs. 10,000 5G smartphones this year. According to Realme India’s CEO, the longer smartphone refresh cycle will continue to have an impact on market growth throughout the year.
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The company’s top executive has stated that it is working to reduce the price of 5G phones while maintaining specifications and performance. However, no specific date for the release of the first affordable 5G phone has been specified, but it will not be available this year.
Realme Affordable 5G Phones
The company’s top executive has stated that it is working to reduce the price of 5G phones while maintaining specifications and performance. However, no specific date for the release of the first affordable 5G phone has been specified. It will not be available this year.
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When asked if India would see 5G smartphones for less than Rs. 10,000 after the spectrum auctions, Sheth said that while prices are dropping, bringing a 5G phone for less than Rs. 10,000 will be difficult. “We can’t expect any company to release phones for less than Rs. 10,000 this year.” “We can see the democratization of 5G technology next year, as we have already seen,” Madhav said.
The top executive went on to say that 5G should not be viewed as a marketing tool, but rather as a reason for consumers to upgrade. Concerning supply chain issues, Sheth stated that the demand-supply gap is narrowing and is “much better than before.”
Replacement cycles have lengthened, resulting in a narrowing of the supply and demand gap. If the entire life cycle is extended by six months, you will have a six-month inventory to help you bridge the demand-supply gap.
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According to the Realme executive, increasing the smartphone refresh cycle from 18 months to 24-30 months. It will continue to impact market growth and will be visible in the April-June quarter. The consumer demand outlook for 2022 remains cautious, according to Navkendar Singh, Research Director, Client Devices & IPDS, IDC India.
“IDC expects 2Q22 to be muted as well. While smartphone supplies gradually return to normal, Navkendar explains. This results in a slower 1H22 compared to 72 million shipments in 1H21.”
Despite falling to third place according to IDC. Realme is the only vendor in the top 5 to have grown by 46 per cent year on year. It has the lowest ASP of $142. Thanks to the C-series offerings, it maintained its second place in the online space with a 23 per cent share in 1Q22. According to the CEO, the company’s smartphone business will drive by two areas of focus: 5G and the premium category.
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“More than half of our portfolio is 5G. Whereas other brands are still struggling with about a quarter of their portfolio.” We are considering 5G leadership. Volumes may appear to be smaller, but we have grown 550 per cent since the previous GT series. Every GT series we launch sees phenomenal growth, which motivates us to launch more products. “We’re going premium even though we want to fill our entire portfolio,” Madhav Sheth explained.
