Here’s why Realme phones are getting more expensive after Diwali
CEO Madhav Sheth blamed weak rupee valuation for the possible price revision of Realme phones in India.
Realme phones may get more expensive in India after Diwali. CEO Madhav Sheth in a tweet pointed out that the company was already working on low margins and that the weak rupee valuation may lead to a price revision.
"The rupee rates are falling and as a brand we actually work on low margins. It indicates that we might have to upgrade the pricing, just to make sure that we continue to give you the best technology in our upcoming offerings. We are trying to figure out a solution post Diwali," he said.
Realme entered in India earlier this year as a sub-brand of Oppo. Since its debut, the company has launched four phones - Realme 1, Realme 2, Realme C1, and Realme 2 Pro. Realme's phones have received mostly positive reviews, especially for their premium design. It is also trying to compete with the likes of Xiaomi in the budget segment with aggressive pricing of its devices.
Traffic is increasing, pollution is increasing and so are the global prices against the rupee. It's going to be long working days this diwali for us as we try our best to bring the same Power and Style to you at best prices. Hope diwali brings cheer to the rupee 😀😀— Madhav Sheth (@MadhavSheth1) November 2, 2018
While Realme shares the same parent company BBK Electronics, it now operates independently, like other subsidiaries Oppo, Vivo, and OnePlus. According to a recent Counterpoint Research report, the company grabbed 1% of the Indian smartphone market and 4% of the online phone market during April-June quarter of this year.
Realme, however, is not the only company to bear the brunt of weak rupee valuation. Apple CEO Tim Cook earlier this week blamed weak currency for "flat" business in India and increasing prices of its iPhones and other devices. ALSO READ: Realme to soon launch mobile accessories portfolio
Follow HT Tech for the latest tech news and reviews , also keep up with us on Twitter, Facebook, Google News, and Instagram. For our latest videos, subscribe to our YouTube channel.