Realme, the Chinese smartphone brand, is setting its sights on expanding its localization efforts in India. Founder and Global CEO Sky Li recently announced the company’s ambitious plans to source more components locally. Currently, Realme sources 60-70% of its smartphone parts, such as screens and batteries, within India. The move is part of a broader strategy to deepen the company’s roots in the Indian market, where Chinese smartphone companies already control more than 70% of the share.
Sky Li emphasized that Realme is not just focusing on smartphones but also aims to localize the production of wearables like smartwatches and hearables. The company is keen on collaborating with homegrown companies for this initiative. The strategy is in line with the growing trend of local manufacturing in India, a market that holds immense potential for consumer electronics. Realme is also encouraging its global suppliers to set up shop in India, thereby contributing to the country’s manufacturing ecosystem.
The localization efforts come at a time when the Indian government is pushing for ‘Make in India,’ a campaign aimed at promoting domestic manufacturing. Realme’s move aligns well with this initiative, as it seeks to work with domestic companies and contract manufacturers for local production. Sky Li’s announcement has been well-received, given the current market dynamics and the increasing demand for localized products.
Realme’s decision to expand its localization efforts is a strategic one, aimed at capturing a larger share of the Indian market. The company understands the importance of local sourcing and manufacturing, not just for cost-efficiency but also for faster time-to-market. By localizing various aspects of its supply chain, Realme aims to offer Indian consumers products that are not only high-quality but also competitively priced.
In summary, Realme’s focus on localization in India is a significant step in strengthening its position in a highly competitive market. With plans to source a higher percentage of components locally and collaborate with Indian companies, Realme is poised for substantial growth in the region. Founder Sky Li’s announcement serves as a testament to the company’s long-term commitment to India, a market that is crucial for its global expansion strategy.
