Realme to expand local production of 5G device, wearables
₹10,000 smartphones category, where fewer players are operating. Additionally, it has launched 5G smartphones under ₹15,000. “The company is committed to democratizing 5G technology in India, recognize that 5G products are the choice of people.
We are dedicated to make it accessible to all." Our strategies are designed to eliminate financial hurdles and ensure our products are attainable for a broader consumer base, he added. Li said Realme will expand its local manufacturing capacities to make smartphones and smart TVs in India to support the Centre’s Make in India initiative. At present, 60-70% of phone components are locally sourced.
“We plan to grow this approach to make wearable devices in India. Our belief in local manufacturing, job creation and market growth showcases strategic alignment with India’s economic objectives." Li said the company generated over 13,000 jobs in India, including in manufacturing. Having sold 8 million smartphones through the offline channels, the smartphone maker will also expand its retail channel presence this year.
Apart from new models it will also bring in new technologies for which it will forge new partnerships. “In 2024, we will be partnering with over 33 top international technology partners to jointly develop innovative cusp technology. Our investment in research and development will increase by a staggering 470%, and the expansion of our scientific research personnel will exceed 400%," he said.Milestone Alert!
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