Realme sells 15 million smartphones in its first year of operation, to double sales in 2020.

The Chinese Smartphone maker Realme has become the fastest growing smartphone brand in India by selling 15 million smartphone in its first year of operation and is coming to double sales next year, its CEO Madhav Sheth said. 

Realme, which debuted as an Oppo sub-brand in May 2018, immediately switched to a standalone unit and is now taking on larger rival Xiaomi with similar price points and a segment of Rs.7,000-20,000 phones.

Unlike other Chinese Challenger such as Vivo and Oppo, which are offline with investments in channel marketing and offline distribution, Realme closely followed the market leader's strategy and focused on online from the beginning.

Sheth, who founded the company together with BBK Group, said Realme is ranked seventh fastest growing smartphone brand globally.

"We will end 2019 with the sale of 15 million smartphones,which is the first full year of our operations." We are aiming to at least double it in 2020.The brand holds 14.3 percent market share, he said citing industry figures by IDC.Realme had a 3.1 percent market share in the third quarter of 2018.

According to IDC, Realme has now become the fourth largest smartphone brand in India in the third quarter.Its popularity is similar to Xiaomi, which has been selling its phones in the country since 2015 by offering a good price-to-quality ratio on its smartphones.

Sheth said, We have sold 5.2 million smartphones in the month of Diwali alone. 

According to Counterpoint Research, Realme shipped 10 million smartphones in the third quarter of 2019, an 808 percent year after year increase in shipments.During the festive season sales, phones such as Realme C2, Realme 3i and Realme 5 were among the best-selling models of the company.

Sheth said the company plans to create an only offline series for India to be named by the end of this year. Aimed at the mid-premium range, the new series will focus more on all-rounder user experiences such as improved battery, touch and feel.

BBK Electronics also owns the Vivo and Oppo smartphone brands.He said that Realme is already an independent brand. "We wanted to clarify that Realme Mobile Telecommunication Private Limited is already an independent brand and legal power," he said, adding that the brand was founded on May 4, 2018 by him and founder Sky Li.

BBK has a majority stake and a minority interest in the firm, Seth said without giving information.

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