Realme eyes top spot in Rs 15-25k segment with launch of P series in 2024

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Smartphone maker Realme India aims to garner the highest share in the Rs 15,000-25,000 mobile phone segment this year with the launch of a new portfolio of devices under P series, a senior company official said.

While sharing the plans on the P series, Realme India business strategy lead, Tarini Prasad Das told reporters that in 2024, the company aims to achieve the 50 million smartphones sales cumulatively under its partnership with Flipkart.

"We aim to lead the Rs 15,000-25,000 smartphone segment this year overall with the launch of the P series. The P series itself is expected to lead the segment," Das said.

Realme is among the top five smartphone brands in terms of volume market share. The company had 12 per cent market share in 2023.

The company plans to launch the P series in the second week of April in sub-Rs 20,000 price range.

Das said that both offline and online sales contribute equally to overall business of Realme and the company is looking to consolidate its leadership in the Rs 15,000-25,000 segment with the P series.

Without revealing the specifications of P series smartphones, Das said that it will play on performance, design, better display and charging facility in the target segment.

"We have exclusively partnered with Flipkart for the P series. We aim to achieve the 50 million sales milestone in Flipkart with the launch of the new P series this year," Das said.

Realme captured the top spot on Flipkart in the price band of Rs 20,000-30,000 in February 2024 with 29.2 per cent share, as per the Counterpoint February 2024 trend report.

The company was the second spot in the India smartphone online market in February 2024 with 13 per cent market share, as per the Counterpoint report.