India is the second largest smartphone market in the world. The numbers are soaring and no signs of slop down can be seen due to the emerging middle-income group population and also the huge number of youth in the country. The growth has been further fuelled by dirt-cheap internet services provided by most of the telecom service providers in the country starting with Reliance’s Jio. The country is the only major economies that are still showing signs of perpetual growth in the smartphone market as compared to markets such as the US, China and Europe.
Shortly after the launch of the smartphone in 2007-08, numerous companies ventured into the segment and India soon became a major market for these brands. Until 2014, there were several Indian brands in the race to become the largest holder of market share in India. However, this changed after the wave of Chinese smartphone manufacturer hit India especially with the advent of the Chinese electronics and mobile internet giant Xiaomi. The company rivalled the major Indian players such as Micromax, Lava, Intex and Karbonn in its initial years as the price and quality were similar. After beating the Indian companies, it graduated to the segment where the global brands such as Samsung, Apple, Sony and HTC were the champions. It soon started showing promising results in the higher segments as well and currently holds the largest market share in India in terms of sales followed by Samsung.
Xiaomi set the benchmark for other fellow Chinese companies and led by example. The brand gave confidence to other Chinese smartphone manufacturers to venture into the huge Indian market and taste success like never before. Soon, the Indian market was flooded with companies such as Oppo, Vivo, OnePlus and so on from China. They were all competing in the entry-level and mid-range market in India that ranges from as low as INR 4000 to as high as INR 25000. Among all, Xiaomi was the undisputed leader due to a great combination of affordability and reliability. However, in the year 2018, a new player emerged in the Indian market that had the grit to challenge the domination of Xiaomi in the entry-level market.
Oppo, one of the top players in the Indian market launched their new sub-brand named Realme. The sub-brand functioned separately from the parent company Oppo and its purpose was to target the very low priced segment. The first smartphone created havoc in the entry-level market as the stock went out in a matter of minutes from the online platforms it was being sold on. The company’s stance was to sell online only to reduce a significant amount of costs in terms of storage, logistics and other supply chain costs.
According to the reputed technology news website Digit, Realme is celebrating its first anniversary in India from April 2nd to April 4th. They are offering huge discounts on their already affordable smartphones. They reported that Realme is offering Re. 1 deals, coupon giveaways and more offers to grab during the sale. The company is not only offering great value in smartphones but also on accessories such as earphones and bags sold under the company’s banner. Realme 2 pro and Realme U1 are offered at INR 1000 discount online and offline. Moreover, the company has paired with a local mobile wallet service provider Mobikwik that will offer an additional 15% cashback on purchase of Realme devices and paid through the wallet. Realme 3 will also be on sale and it is recommended that the consumers keep a close eye on the sale to get a very good deal.
The sale will not only help in higher sales but also increase the awareness about the company among the masses. Consumers in most markets, especially India are very price sensitive. In such cases, the brands that can offer the highest value for money will win over the brands that offer status symbolic products. Realme understood these points from their inception and grabbed a significant market share in a very short time.
The biggest achievement of the brand was when people started choosing their smartphones under INR 10,000 over the offering from Xiaomi’s Redmi. Realme became the only brand that could rival Xiaomi’s smartphone in the sub-10K category. The last year has been a major success story that needs to be celebrated by the company itself and analysed by the competitors.