Realme is looking to expand localisation efforts in India, says Founder Sky Li
Chinese smartphone brand Realme is looking to expand local manufacturing in India through contract manufacturers several of whom are domestic companies besides asking its global suppliers to set up shop in the country, founder and global chief executive officer Sky Li said. The company aims to fully localize production of hearables and wearables in India after achieving complete local manufacturing of smartphones and televisions, Li said.
«In terms of manufacturing, we are working to establish a strong manufacturing ecosystem all across India.
We are also encouraging more of our suppliers and partners to set up local factories in India so that they can contribute more to the economy of the country,» Li told ET.
Chinese smartphone companies — who control more than 70% of the Indian market as per market researcher International Data Corporation (IDC) — are seeking to make more products in India amid geopolitical tensions between New Delhi and Beijing. This has led India to impose restrictions on investments from the neighbouring country.
ET reported on June 13 the Indian government had asked the Chinese companies to source more from local companies, localise management and distribution structure, and even forge potential joint ventures with Indian companies.
Realme currently sources 60-70% of its smartphone parts like screens and batteries in India.
For smart televisions, the company has partnered with Bhagwati Electronics, Videotex International and Skyworth. For smart wearables and hearables, it has partnered with KHY Electronics.
India is one of the largest markets for Realme with over 70 million customers.
