Realme to focus on products in Rs 30,000-50,000 range over the next 5 years: Founder Sky Li

Chinese smartphone brand Realme will focus on mid to high-end products over the next five years, said the company’s founder and global chief executive officer Sky Li. Realme has set its future plan at a time when the company is going through a tough phase – apparently because of several employees leaving the organisation and joining Madhav Seth, CEO of Htech. 

Li also said that Realme will continue to strengthen its portfolio in the Rs 6000+ price segment.

When asked to comment on several top executives leaving the company and how Realme in India is planning to go forward, Sky Li said Realme remains committed to continuing to drive its strong growth trajectory in line with its strategic vision for India. 

“The impressive 51 per cent QoQ growth in Q2 2023, underscores the resilience and potential of the brand. Having secured the No. 3 position among Indian smartphone brands, the team Realme is poised to drive further innovation and lead the company towards even greater accomplishments and we remain steadfast with our commitment,” Li said.

Here are the edited excerpts of the interview: 

1.  Realme was once the fastest-growing global 5G smartphone brand. Do you think it will manage to attain the spot again and how? 

Sky Li: Glad you asked this. As the pioneer in democratising 5G technology, back in 2020, realme introduced India to its first 5G smartphone, the Realme X50 Pro, emphasizing our commitment to future-proofing user experiences. With a remarkable portfolio of 32 5G-enabled smartphones, we're fervently pursuing our ambition to lead India's 5G revolution. Our mission centres on becoming the real 5G democratiser, with an unwavering focus on accessibility and providing a comprehensive experience. This commitment is evident in our efforts to offer 5G devices within the Rs 10,000–Rs 15,000 price bracket.

Our approach to shaping the 5G landscape is comprehensive. From forging alliances with prominent telecom partners to enhancing accessibility to collaborating closely with industry peers for meticulous pre-testing, we're all about delivering the pinnacle 5G experience. Our 5G smartphones aren't solely about connectivity; they synergize cutting-edge nanotechnology processors with realme's hallmark design and quality. This convergence brings forth enhanced power management, display finesse, camera capabilities, gaming prowess, and more. Consistent OTA updates underscore our dedication to bringing the advantages of 5G to all users.

Our journey towards a 5G future continues to gain momentum. We're steadfast in expanding our 5G product array, solidifying our role as the foremost 5G leader. This drive encompasses providing a holistic 5G experience, revolutionizing imaging, charging, and design realms. This strategic direction echoes our commitment to catering to our diverse user’s distinct needs while pushing technological boundaries to their zenith. 

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As we celebrate our 5th anniversary, we have chosen “Leap Up” as our brand focus for the next five years. We believe in learning from differences in order to “Leap Up” together and it is only possible by adapting to new ideas and perspectives that have got us here today and is the same mindset that we aim to bring along for the next five years. 

2. Several Chinese smartphone manufacturers are now launching premium devices but Realme is yet to enter into that segment. Is Realme planning to do so and if yes by when? 

Sky Li: Our commitment has always been to provide what our users truly desire, resulting in a diverse portfolio that caters to every individual's preferences. From the Realme Number Series to the GT, narzo, and C Series, each range addresses specific consumer needs.

In the premium segment, we made our foray in 2021 with the remarkable Realme GT 5G series, comprising the Realme GT 5G and Realme GT Master Edition 5G. Drawing inspiration from iconic grand tourers, this series embodies speed, masterful design, and cutting-edge technology, redefining standards and setting new benchmarks for Indian consumers.

Our dedication to this segment is evident with offerings like the Realme GT NEO 3, GT NEO 3T, Realme GT 3, Realme GT 2 Pro etc. showcasing groundbreaking technology. Our focus for the next 5 years will be on introducing mid to high-end products by bringing innovation to products in the Rs  30,000-50,000 range while strengthening the competitiveness of the Rs 6000+ price segment.

We're committed to advancing this segment further, introducing exceptional devices that push technological boundaries and resonate with our users' aspirations. Stay tuned for more innovations from Realme.

3. Brands that have an offline presence seem to be doing good in India. Is Realme planning to expand its offline presence going forward?

Sky Li: Realme is incredibly excited about the prospect of localising products to reach a more diverse customer base. Our success is rooted in an innovative approach, offering quality products to our customers. We're amplifying our presence across India through an efficient distribution network. Collaborating with distributors is pivotal for us, bridging the gap between the physical and digital realms. This synergy expands our reach and market understanding, offering diverse consumers a hands-on experience. Presently, we're in over 30,000 stores; our ambition is to elevate this to 50,000 stores by 2023, ensuring more people engage with Realme products firsthand. 

Realme has recently rolled out a new initiative with the objective of fortifying its collaborations with distributors operating through offline channels. The initiative focuses on empowering partners by upgrading them to the agency level based on their performance, providing them with enhanced benefits. The primary aim of this upgrade is to nurture a cohort of adept strategic partners in India. Through this mutual growth, Realme and its partners can establish a strong foundation for the brand's long-term success. 

The newfound initiative carries noteworthy ramifications for Realme's sales and operations. By augmenting the influence of the brand and its channel partners within brick-and-mortar channels and outlets, Realme can extend and intensify its reach within the offline distribution grid. This manoeuvre not only elevates the brand's visibility within physical retail spheres but also heightens its availability to consumers across the entire nation.

Through the collaborative synergy between Realme and its agency partners, both parties can harness each other's competencies to fine-tune distribution and marketing strategies, resulting in heightened customer contentment and enhanced brand fidelity. Backed by this potent joint endeavour, Realm is poised to firmly establish itself as a prominent contender within the Indian smartphone market, and secure a larger portion of the market share. Looking ahead, Realme aspires to perpetuate its efforts in empowering channel and agency partners to enhance the holistic customer experience.

5. After-sale services play a major role in building trust. Is there any plan to improve it?

Sky Li: We're driven by a consumer-centric approach that places after-sales services at the forefront of building trust. Our dedication to enhancing the customer service experience and satisfaction is unwavering. With a robust network of over 590 service centres, including 50 exclusive ones catering to smartphones, AIOT products, and laptops, we're strategically positioned to cover every nook and cranny of the nation.

But we're not stopping there. We're actively expanding our footprint with about 200 new service centres slated for launch across 532 cities. This expansion will bring our total count to an impressive 700+ service centres, ensuring that our customers receive best-in-class support wherever they are.

Our track record speaks for itself – achieving a remarkable Customer Satisfaction Target of over 90 per cent is a testament to our commitment to delivering an elevated service experience. As we forge ahead, expect exciting developments, including new launches, dynamic brand collaborations, and innovative advancements. The journey towards an even more customer-focused future is just beginning.