According to market research data from the end of Q4 of FY2020, realme’s market share in the Indian smartphone segment was 12%. The brand has also recorded the highest growth in the previous fiscal year with a 22% year-on-year progress.
The lion’s share of this sales volume can be owed to its strong presence in the budget segment. realme mobiles under 10000 offer a host of features and provide value for money to its users.
Continuing with this affordability factor, it is a point of discussion on how realme manages to price its products so competitively.
Know how realme manages to keep its product’s prices low
Here are a few points that enable realme mobile under 10000 to be the comprehensive products they are –
- Only online presence
realme entered the Indian market in 2018 with only online operations. They entered an affiliation with leading e-commerce platforms to sell their products. This enabled the company to save massively on their initial investments to create a physical retail network, maintain a supply chain, market and advertise products.
Saving on these overhead costs has allowed the company to keep its prices in check and offer affordable products.
- Saving on research and development
Research and development costs can set back a company by a significant amount, which can often rise to billions. Moreover, it takes a significant time to perfect a product and then launch it.
Being a sister brand of the Chinese smartphone giant Oppo and a part of BBK Electronics, Realme has managed to save on this particular cost. A point to note about the conglomerate BBK electronics is that it controls mobile phone brands like Oppo, OnePlus, and vivo.
Being a part of this group has allowed realme to leverage the research work of its other brands and integrate them into their devices. If you compare the technical specifications of Oppo F7 and realme 1, you can see it for yourself.
This sharing of technology is not limited to the hardware specifications; it extends to the operating software as well. Since software and other applications take years to fine-tune and eradicate small issues, other companies spend a lot of time and resources behind them, which reflects on their product pricing. In this regard, realme has adopted the ColorOS used by Oppo and used them in their devices with their own styling changes.
The above-mentioned pointer sheds light on the fact how realme can offer a 5000mah battery mobile with a triple camera setup within Rs.10,000.
- Using third-party software
As already mentioned in the previous point, developing indigenous software requires time and money that drives up the production costs. Whereas using readily available third-party software can still do the job and allow companies to price their products aggressively.
- Not investing heavily in marketing
Being a relatively new company in the market, realme has adopted a different approach than most. Instead of walking on the path of investing heavily in hiring big brand ambassadors and creating flashy advertisements, the brand has stayed online and used its customers and their feedbacks as its marketing tool.
There are numerous online forums and reviewers who are informing individuals about new smartphones. The company has strongly invested in affiliate marketing and promoted its products through these mediums.
Hence, pricing a product competitively has not been an issue for realme since its launch. To get even better pricing and make the purchase simpler through EMIs, you can refer to the Bajaj Finserv EMI Network. This facility, with 1 lakh+ partner stores across 1900+ cities, allow individuals to shop from an inventory of over 1 million products and avail in-store financing.
The emergence of realme has highlighted the competition in the Indian market, especially in the budget segment. realme mobiles under 10000 with their value for money quotient have given established players like Xiaomi and Samsung a run for their money, and experts suggest this race will only heat up in the coming years.