Phone maker Realme seeks to transform into a lifestyle products firm

Realme, India’s fourth largest smartphone brand, is planning to morph into a lifestyle products company by increasing focus on accessories, besides taking the offline route to raise its market share. The strategy, the company believes, will help address its target group—the millennials—better, considering that young India is driving growth in the consumer electronics category.

“For us, 2020 will be about mobile phones and accessories. Ultimately, we want to become a lifestyle products company. Devices will be the major business for us, but we are building Realme for the youth. And smartphone is not the only thing the youth wants. There are multiple other things. We want to cater to that,” Madhav Sheth, chief executive officer, Realme India, said in an interview.

In the next one year, Realme will launch more accessories, including neck bands and power banks.