Realme ahead among growing smartphone brands: Company is focusing on mid-premium segment

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New Delhi. The increasing craze of smartphones among the youth of India has led to the growth of the smartphone market. There is a significant increase in the use of technology in the country. Smartphone users in the age group of 18-24 play an important role in this area. As the demand for the product is increasing, the production of smartphones has reached the highest level.

India’s youth are seizing this opportunity, leading to an unprecedented rise in content creators across the country, a trend that doesn’t seem to be slowing down.

Smartphones have become very important for various purposes like online education, bill payment etc. Due to this, the demand for best feature and powerful smartphones has increased rapidly.

Consumers are looking for devices that come with superior camera capabilities, long-lasting batteries, powerful performance, high memory capacity, and significant 5G capability at a lower price point.

The mid-range segment (Rs 30,000 – Rs 50,000) is rapidly gaining popularity as the most sought-after category in the Indian smartphone industry, offering exceptional value to customers. It is no surprise that this segment has caught the attention of the youth of India.

These smartphones now offer a ton of features, like high-quality cameras, image stabilization, AI enhancements, better performance, and other features that were once exclusive to ultra-premium devices.

The primary goal of mid-range devices is to provide a premium experience and performance at a much lower price than the current flagship options available in the market.

The demand for smartphones in this segment is continuously increasing. According to IDC, the segment witnessed a growth of 37 percent (y-o-y) during Q3-2023. This ongoing shift in consumer preferences has created significant opportunities for the industry, prompting smartphone manufacturers to revolutionize the mid-premium range by incorporating features and specifications that were previously reserved for higher-priced premium models. Were special.

Focusing on the mid-premium segment, Realme is one manufacturer that has seen rapid growth. It has become one of the fastest growing smartphone brands in the country. In fact, according to IDC, it became the fastest growing smartphone brand in the $200 to $400 segment during the second quarter of 2023.

According to Counterpoint Q3 2023 analysis, Realme ranked third among Indian smartphone brands in the Rs 20,000-30,000 price band in September 2023. This continued growth highlights realme’s dedication to offering high quality products while demonstrating its ability to meet the ever-changing preferences and demands of its customer base.

With buzz around 5G spectrum in India at an all-time high, current developments only offer a glimpse of what’s to come. Undoubtedly, 5G will be a revolutionary force driving rapid change in various fields in the coming years. Among the top trends anticipated is enhancing gaming experiences through advanced technologies.

Additionally, many brands have started reusing and recycling materials for their smartphones, making production more energy-efficient.

Powered by innovation, youth appeal and cutting-edge products including 5G, realme aims to become the first choice for young users across the world in the next five years. Its focus will be on pushing technological boundaries, especially in youth-centric products and industry-wide innovation in premium mid-range smartphones.

realme is dedicated to providing best value, recognizing the importance of accessibility and growing its customer base over the next five years. The brand also plans to focus on revamping products in the Rs 30,000-50,000 price range while strengthening competition in the Rs 60,000 price segment.

By staying in line with the interests of the youth, realme aims to establish a strong emotional connection with its customers, maintain its commitment to customers and ensure that they remain at the forefront of technology advancements.

–IANS

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