London, Hong Kong, Seoul, San Diego, Buenos Aires, New Delhi, Mumbai – December 30th, 2019
realme, the fastest growing smartphone brand globally entered the top five brands in Spain in November 2019. The brand was able to achieve this within one month of its launch in the country, making it one of the fastest ramp-ups in the Spanish smartphone market.
realme first launched its smartphones the X2, X2 Pro and 5 Pro in October, the brand then launched the realme 5 in November. The X2 Pro is the most affordable device with the flagship-grade Qualcomm Snapdragon 855+ chipset on-board, in-display fingerprint and a quad-camera setup, making it one of the best selections in the US$300~US$400 smartphone price segment. The realme 5 Pro and 5 were the most affordable smartphones with a quad-camera setup.
With a strong portfolio of smartphones, realme has positioned itself as a youth brand, in the US$100~US$400 price segment, which accounted for 64% of the total Spanish smartphone market. The brand drove its sales with a range of discount offers on as part of a Black Friday sales promotion on its own online platform. This helped increase shipments in the last week of November. In support of its aggressive pricing and promotion strategy it also partnered with Amazon Spain to increase online presence, and did social media campaigns to connect with young consumers.
The core strength of realme lies in its fast execution of a cutting edge product strategy and responding quickly to consumer demand. It has been quick to bring premium features to the budget segment; we have seen it use the strategy with great success in India and other south-east Asian markets. It’s now repeating the approach with positive results in Spain. We expect this approach will resonate well among young consumers seeking value-for-money. We therefore expect realme to further grow its market share in Spain, challenging Xiaomi, Huawei and Samsung.
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Analyst Contacts:
Tarun Pathak
Shobhit Srivastava
Peter Richardson
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