The Founder and CEO of realme Sky Li has penned an open letter on the company’s fifth anniversary thanking fans across the globe for realme’s continued success. The company has gained recognition from customers around the world, moving up 29 places in Kantar BrandZ Top 50 Chinese Global Brand Builders list 2023.
The letter also highlights the company’s five-year “Leap-Forward Climbing Plan” to dominate markets with technologically superior devices. Pakistan remains a key market for realme in its growth strategy and the company has set its sights on becoming a top 3 smartphone brand by 2024 following the removal of most import restrictions and ongoing economic revival.
How “Dare to Leap” brought realme into the global mainstream
Five years ago, realme entered the crowded smartphone OEM market as an underdog and quickly defied expectations. In a fiercely competitive market dominated by established industry giants, realme beat the odds and entered the mainstream. realme ranked in the top five in 30 markets around the world in just three years, establishing realme as the world’s youngest mainstream smartphone brand.
In the two years after it was established, the company was named the world’s fastest growing smartphone brand for four consecutive quarters (Counterpoint) and was ranked 7th in the global smartphone market. realme became the fastest in the world to reach US$50 million in sales in the third quarter of 2020 (Counterpoint). In 2021, realme achieved another milestone and became the world’s fastest brand to achieve US$100 million in global sales, and entered the global top six for the first time (Counterpoint Report).
In the same year, realme achieved two million sales in Pakistan and local fans contributed immensely to its growth making it the best mobile and accessories brand on e-commerce marketplace Daraz. This initial success in Pakistan highlights the significant potential of the market for global tech brands. The impressive returns and growing demand for consumer technology indicate a well-informed consumer base keen on affordable tech offerings.
realme’s success can be attributed to its unwavering commitment to its “Dare to Leap” brand philosophy. Its young leadership team boasts an average age of only 30 years old and has a unique insight into realme’s young customer base. They stay on top of user needs, adapt quickly to market changes and consistently deliver products with leap-forward performance and design. realme has managed to “leapfrog” its industry competitors. The company continues to surpass its own goals and achieve the impossible.
Reaching for higher peaks and greater heights for the next five years
However, the industry’s increasing challenges have made growth more difficult to achieve. The brand adapts quickly to find unique paths forward and has never shied away from a challenge. The company is adhering to the “long-term growth” approach it introduced last year, as well as its “Simply Better” Strategy and “Market Cultivation” Strategy with unifying its global product line.
Due to economic uncertainties and the resulting ban on imports, Pakistan became an almost dormant market for realme in late 2022. However, the brand showcased its resolve to serve local fans and rise once more by recently launching the realme Narzo 50, an affordable smartphone for gaming enthusiasts. The smartphone manufacturer has also announced the restocking of its immensely popular realme C33 series in the market.
Going forward, realme remains committed to its initial mission, placing users at the core and increasing investment in research and development across six major domains: Display, Imaging, Gaming, Charging, Chipset, and Craftsmanship. Sky Li stated in his open letter that realme will adopt a beginner’s mindset, leaving behind past achievements, and learning from experiences, to face unknown challenges, aiming to achieve the next impossible goal and commencing another five years of continuous elevation.
Though the next five years will be challenging, they will also bring realme closer to its next destination as the company continues to create products that exceed expectations. Embodying the spirit of “Dare to Leap,” realme intends to face difficulties head-on, make steady progress, and continue to scale new heights.