realme’s Growth in Q2 2020 is as ‘Real as it Gets’

Gadget Pilipinas
realme’s Growth in Q2 2020 is as ‘Real as it Gets’

realme continues to be the fastest-growing brand in Southeast Asia, according to a report from the Counterpoint Research Market Monitor service. realme reportedly grew by 141% Year-over-Year (YoY) and 64% Quarter-over-Quarter (QoQ) which allowed the company to capture 13% market share.

The smartphone market in SEA has declined by 19% YoY due to the COVID-19 pandemic. Despite the decline, realme has maintained its momentum and quickly become one of the top five smartphone brands in key markets in the region (Cambodia, Indonesia, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam).

In the Philippines, the company grew 97% QoQ which overtook OPPO, Xiaomi, and Samsung to claim the second spot, up from fifth last quarter.

The same could be said about realme in Malaysia and Singapore. In Malaysia, the company took third place in the market after surpassing Apple, Xiaomi, and OPPO. In Singapore, realme entered the top five for the first time. The company ranked first in 5G shipments in Thailand with a 43% share of the 5G market.

Outside Southeast Asia, it has also performed well in Asia Pacific markets like Bangladesh, Australia, Taiwan, and Pakistan. realme managed to gain a 6% market share despite officially entering the country in February 2020. In Pakistan and Australia, the company ranked fourth, while in Taiwan, it nabbed fifth.

The company is one of the first brands to bring 5G devices to the mass market price. In addition, innovations like the 125W UltraDart Charge technology. It has also recently expanded into the IoT space with smart bands, smartwatches, TWS, and smart TVs which will help the brand strengthen its position in the market with a more holistic ecosystem.

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Source: Gadget Pilipinas