Realme for starting Sub-Rs. 10,000 5G phones in India in 2022, Madhav Sheth reveals
Realme is set to launch 5G phones in the under Rs. 10,000 price segment next year, India CEO Madhav Sheth revealed during a webinar on Wednesday. The executive also promised that all the company's new products priced higher than Rs. 15,000 will be 5G-only shortly. The Chinese company started its 5G journey in India with the launch of the Realme X50 Pro 5G last year. It, however, recently expanded the 5G phone portfolio in the country, with the launches of models such as the Realme 8 5G, Realme Narzo 30 Pro 5G, and the Realme X7 Max 5G, among others.
“In 2021, our goal is to become the 5G leader in India and make the technology more accessible to the masses,” said Sheth.
He announced that Realme plans to launch the Realme GT series in the country in the next quarter as part of its 5G strategy. The board emphasized that there will be several Realme GT models and not just one product.
Realme earlier this year promised to build a portfolio of all 5G phones above the Rs. 30,000 price segment in the country. That promise will be extended to all its new phones over Rs. 15,000 price bracket.
Sheth, however, stated that it would be difficult to estimate when exactly the company would get an entire 5G portfolio. The last month stated that Realme would launch a 5G phone at a price of around $100 (roughly Rs. 7,500).
“The reason why a lot of these users are [asking for 5G] is the average replacement rate in India for a phone is 24 months, and they want their phone, their device to be future-ready when they are investing today,” said Tarun Pathak, Associate Director, Counterpoint.
He added that 31 million smartphones enabled with 5G will be sold this year until 2021. The 5G phones will surpass their 4G counterparts in terms of device penetration in all price segments above Rs. 20,000, as per the Counterpoint data cited by Pathak
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