Realme reveals 5G business plan aiming to sell at $100 price point

Realme said that it would enable 100 million young consumers to use 5G smartphones within the next three years, with an aim to launch a 5G smartphone at $100 price point in the next few years.
Realme fans
At its inaugural 5G summit with GSMA and Qualcomm, Realme said that models in GT series, Realme 5G performance and camera flagships will be launched in June and July, among several other corporate initiatives to promote 5G adoption globally.

“We will popularize 5G by listening more to consumers’ needs, pushing forward product innovation, and helping to build the 5G ecosystem with our partners,” said Madhav Sheth, Chief Executive Officer of Realme India and Europe.

In 2020, Realme launched 14 5G devices in 21 markets, accounting for around 40 percent of all its products.

By 2022, the company aims to increase the number of its 5G product offerings to over 20, increasing the ratio to 70 percent across 50 markets.

In 2021, Realme plans to set up more than 10 5G pop-up stores around the world.

As of May this year, 60 countries around the world had launched 5G.

“Twelve of them are emerging markets and mostly in Asia. The transition to 5G is inevitable across the world, and 5G is expected to bring $600 billion to the global economy over the next decade,” said Kalvin Bahia, Principal Economist, GSMA Intelligence.

Realme will establish seven R&D centres around the world in 2021, dedicated to exploring innovative 5G technologies and products.

“Realme is helping to popularize the technology across many other countries with a series of compelling products with great specifications at affordable prices,” said Peter Richardson, VP & Research Director, Counterpoint Research.

“The upgrade to 5G chipsets pushes platform processing performance to remarkable levels, allowing us to maximize the step change improvements we are seeing in today’s smartphone components and hardware,” Rajen Vagadia, President, Qualcomm India, said.