Realme announces half-yearly results, registers 11% growth in Q2 2020

Realme on Monday announced the quarterly results for the first half of 2020. In its results, the company announced that it had witnessed a growth of 11% in the second quarter of 2020, making it one of the few companies that have witnessed double-digit growth amid the pandemic.

As per a Counterpoint report, Realme is one of the two brands to register positive growth in the first quarter of 2020, despite strict lockdowns being enforced in countries across the globe. The company as per the report witnessed a 157% increase year-on-year.

As per the latest data, Realme has added a total of 15 million users in the first half of 2020. The company has also emerged as one of the top four smartphone companies in India, Thailand, Cambodia and Egypt. It has also emerged amongst the top five companies in Myanmar, the Philippines, Ukraine, Indonesia and Vietnam, according to reports by Counterpoint Research and IDC.

Realme changed its brand strategy in 2020 by including artificial intelligence of things (AIoT) device in its portfolio of devices. This, the company says, helped it in meeting its targets for H1 2020. The company is planning to launch around 50 AIoT devices in 2020. It is planning to add over 100 AIoT devices in the subsequent year.

“Today, it has emerged as the most popular tech-lifestyle brand in the world, thanks to the immense hard work from our realme team. Their vision to make realme one of the most innovative, youthful brands in a highly competitive industry, with a deep understanding of the consumer’s pulse, have contributed to this success. We have Dared to Leap ahead, time and again, and this is evident in the growth curve we witnessed in H1 2020. We will continue to stay true to our mission to connect with the youth, offer the best tech-lifestyle experience, enable them to push their boundaries and challenge themselves,” Madhav Sheth, Vice President realme and CEO, realme India said on the occasion.