realme commits 5G phones to 100 million young consumers within 3 years

In realme's first 5G virtual summit, they announced their commitment towards 100 million young consumers to have access to 5G devices within 3 years.

Virtual Summit

Making 5G accessible by many!

The fastest-growing smartphone brand also announced that new models in its GT series, realme 5G performance, and camera flagships will be launched globally in June and July 2021, respectively, in collaboration with tech powerhouses GSMA, Counterpoint Research, and Qualcomm, as well as several other corporate initiatives to promote 5G adoption across the globe.

As the company aims to bring a 5G connection for all, the virtual summit has brought leaders from industry associations, research institutions, and component vendors, and device manufacturers to share their insight on several 5th gen data topics. This includes the motivations behind it, the technological aspects of 5G advancement, the special interaction between the latest tech and the young generation, and how to make the next generation data connection accessible in the future.

At the summit, realme pledges its commitment as a key player in bringing 5G to the global markets as it aims to bring the technology to more users around the world.

Last year, the company had launched 14 devices with 5G in 21 markets, accounting for around 40 percent of its total product line. By 2022, realme wants to boost the number of 5G products to over 20, with a 70 percent coverage ratio across 50 markets. They also intend to lead the market with the release of a more affordable 5G handset in the coming years, a move that is expected to hasten 5G adaptability, especially in developing countries.

Madhav Sheth, realme VP, and CEO for India and Europe said,

Starting with our first 5G model, the realme X50, we have been exploring new design concepts and technical innovations to bring users more slimline and design-rich 5G phones that have a powerful performance. We believe that in the 5G era, helping to accelerate the adoption of this new technology is a crucial mission for realme. 

The company said that they will also work hard to popularize 5G by listening to consumers' needs, pushing forward product innovation, and helping to build the broader 5G ecosystem with their industry partners. They also plan to set up more than 10 5G pop-up stores around the world.

Tech powerhouses joined the virtual summit

Peter Richardson, Counterpoint Research VP, and Co-founder said that the growth of 5G has been impressive and the reduction of prices of smartphones has become fast and has been one of the main drivers. He also noted that by the end of last year, we have seen highly competitive 5G devices that were sold affordably in China, with realme being the most aggressive with its V3 5G selling at around USD 145 (around PHP 6.9k with no tax and duties yet).

Qualcomm India & SAARC VP and President Raja Vagadia noted that aside from affordability and access, the 5G technology is also improving at a rapid pace which allowed them to "maximize the step-change improvements that we are seeing in smartphone components and hardware"

realme will also establish seven R&D centers around the world this year to support the global adoption of 5G products. At present, 90 percent of realme's R&D resources have been converted to this project. In the next two years, the company will invest USD 300 million globally for research and product development.