In last quarter of 2018, Realme proceeded on to enter the South East Asian market. Ever since then, the company has been growing exponentially in this particular region. Indeed the latest report courtesy of Counterpoint Research just further illustrates the point of Realme reaching very impressive heights and growth rate in the region. The Chinese company is undoubtedly the fastest growing brand in South East Asia – experiencing a growth of 173% YoY.
Initially, Realme made its debut being a sub-brand of yet another Chinese smartphone manufacturer in Oppo. This debut took place in early 2018. In the very last quarter of the same year, the company decided to enter South East Asian markets.
It took Realme only within a quarter in Q1 2019 to make its way into the top ten brands bracket for such South East Asian markets that it had made its way into.
This news of the massive success that Realme has been seeing is even more so impressive when you consider the fact that the whole world economy is currently in recession due to the coronavirus pandemic. Considering the fact that consumer needs now seem to be limited to only necessities rather than luxuries, the global smartphone market too has seen a massive decline as it witnessed a downfall of 13% in Q1 2020 – as a direct consequence of the coronavirus. Also, the South East Asian market that Realme has done wonders in and is continuing to do so too witnessed an 11% decline in the very same period.
While the future of Realme certainly does look bright in both the South East Asian markets as well as markets such as the Pakistani one, with the uncertainty surrounding consumers, one wouldn’t be too far off suggesting that soon it might not be reaching the same heights that it has in the more recent times. Of course, whether this will be the case – only time will tell!