Youth-centric technology brand realme recently broke into the top six smartphone vendors in the global rankings, according to the latest market insight from Counterpoint Research.
It has also become one of the top smartphone makers in Bangladesh, according to Tim Shao, managing director of realme Bangladesh, who recently opened up about realme’s growth, strategy and future plans in a candid conversation with UNB.
Talking about realme’s recent success, Shao said, “As a company we believe in the adage ‘Dare to Leap.’ We always embrace youth and youthful ideals. That’s why, we have a very young and vibrant team who are always in pursuit of exploring cutting-edge technology for our millions of young users.”
Speaking on the firm’s knack for innovation, he said, “Bringing the latest innovations for its users, realme was one of the first brands to introduce the 125W UltraDart charging technology, and phones equipped with the latest Qualcomm Snapdragon 888 processor. Our phones were one of the first in the world with a 64-megapixel camera. realme was the first to introduce concave vegan leather, brought together with light and matte materials in one design.”
“Moreover, realme has a strategy of using the asset-light, short channel business models so that we can reach customers of different age groups and status. For example – we have inked different deals with e-commerce sites of Bangladesh so that they can get our smartphones at the best possible price.”
Predicting the market trends for the next two or three years, Shao said that realme has observed that the modern smartphone users are very tech-conscious and want to experience cutting-edge technology, which is why the premium segment market will boom in the next two or three years.
“In accordance with that, realme is going to plough its revenue back into innovation, beginning initially with the GT series, which will be the only flagship product line for realme in the future. Moreover, realme has introduced a new lifestyle brand ‘TechLife’ to accommodate emerging technologies (5G) and top-notch AIoT (AI + Internet of Things) products,” Shao said.
The company’s international expansion efforts continue unabated, but Bangladesh is already established as one of its leading markets. Shao plans to keep it that way.
“We embarked on a journey in Bangladesh in February 2020. realme is now focused on the Bangladeshi smartphone ecosystem. Our core markets are mainly located in Southeast Asia, India and Bangladesh, all of which are maintaining high growth rates. We want to ship 300 million handsets by 2023,” he said.
Speaking on realme’s flat company structure which created a focused team of young people and plans for maintaining this culture as it grows bigger, Shao said, “We have a team of young people who truly understand the needs of young people and are bold enough to disrupt the status quo and make innovations.”
Asked to reflect on how realme seeks to meet the needs of the consumers, he said, “Our strategy is youth-focused and we always listen to them and design our products in accordance with their preferences. Consequently, already 100 million youths around the world have chosen realme, including the youths in the Bangladeshi market.”
The brand has branched out from smartphones to being a lifestyle brand, selling both smartphones and AIoT products using the ‘1+5+T’ strategy. Regarding this strategy and sales response, he said, “AloT adoption and popularisation is a part of our long-term strategy. Under this new strategy, we will be releasing products in 5 categories – smart TVs, laptops, wearables, smart tablets, and smart earphones. These new lines of products will enrich the entire AIoT ecosystem and provide consumers with more choices for a tech trendsetter’s lifestyle.”
On popularising 5G for the youth and young professionals, market and the role 5G is set to play for the next generation of digital natives, Shao said, “There will be mass adoption pf 5G later this year, and it is here to stay. realme wants to establish itself as a populariser of 5G in the Bangladeshi market. So, realme is developing a diverse portfolio of 5G products to offer 100 million 5G phones in the next three years to the young users.”
Source: United News of Bangladesh