realme 5G Summit Ends with a Commitment to Bring 5G Phones to 100 Million Young Consumers in Next Three Years
Lahore – Thursday, June 03, 2021: realme, the world’s fastest-growing smartphone brand, today announced at its inaugural 5G summit that it would enable 100 million young consumers to use 5G smartphones within the next three years. At the summit, which was held in partnership with GSMA, Counterpoint Research and Qualcomm, realme also revealed that new models in GT series, realme 5G performance and camera flagships, will be launched in June and July 2021, respectively, among several other corporate initiatives to promote 5G adoption globally.
With the theme “Making 5G Global: Affordability for the Masses”, the 5G summit brought together leaders from industry association, research institution, component vendor and device manufacturer to share their insights on several 5G topics: current global 5G connectivity – the driving forces behind it and the technical aspect to 5G evolution; the unique relationship between 5G and the younger generation; and how to further facilitate 5G accessibility in the future.
At the summit, realme reaffirmed its commitment to become a “popularizer of 5G” and shared its latest pledge to advance the adoption of 5G in global markets and bring the technology to more users worldwide. In 2020, realme launched 14 5G devices in 21 markets, accounting for around 40% of all its products. By 2022, the company aims to increase the number of its 5G offerings to over 20, upping the ratio to 70% across 50 markets. realme also plans to take the industry lead in launching a 5G mobile phone at a USD 100 price point in the next few years, a move that is set to further accelerate 5G adoption, especially across the rapidly emerging economies.
Madhav Sheth, VP and CEO of India and Europe, realme, said at the summit, “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. We will work hard to help popularize 5G by listening more to consumers’ needs, pushing forward product innovation, and helping to build the broader 5G ecosystem with our industry partners.”
Johnny Chen, Brand Director, realme, added, “realme believes that 5G is for the younger generation – internet natives who are looking for ways to connect and express themselves beyond the physical world. As a brand that’s dedicated to young consumers, realme tries to listen carefully to what they expect from 5G technology and get them more involved in the process of creating a better 5G user experience. By empowering the young, we hope they can, in turn, become the forerunners of 5G adoption and help lead more people into the 5G era.”
In 2021, realme plans to set up more than ten 5G pop-up stores around the world allowing young people to create exclusive spaces where they can enjoy 5G experiences through cloud gaming, ultra-clear AR, live broadcasting and other popular 5G applications.
Also joining the summit was Kalvin Bahia, Principal Economist, GSMA Intelligence. He commented, “As of May this year, 60 countries around the world had launched 5G – 12 of them are emerging markets and mostly in Asia. While the growth of 5G coverage is encouraging, a survey by GSMA shows that other barriers remain for widespread adoption of the new technology amongst consumers, such as affordability of the devices, lack of digital literacy and skills, and costs of mobile data. But nevertheless, the transition to 5G is inevitable across the world, and 5G is expected to bring USD 600 billion to the global economy over the next decade.”
Peter Richardson, VP and Co-founder, Counterpoint Research agreed that the growth of 5G has been impressive and the rapid reduction in smartphone prices has been one of the main drivers. He noted, “By the end of last year, we saw some highly competitive 5G products offered at affordable prices in China, with realme being the most aggressive with its V3 5G selling at around USD 145. realme is helping to popularize the technology across many other countries with a series of compelling products with great specifications at surprisingly affordable prices.”
Mr. Rajen Vagadia, VP and President, Qualcomm India & SAARC said at the summit, “The upgrade to 5G chipsets pushes platform processing performance to remarkable levels, allowing us to maximize the step change improvements we are seeing in today’s smartphone components and hardware. Just as important, we are delivering 5G to all tiers, ensuring it is accessible to broad segments across developed and emerging markets alike.”
To support the global adoption of 5G products, realme will establish seven R&D centers around the world in 2021, dedicated to exploring innovative 5G technologies and products. At present, 90% of realme’s R&D resources have been converted to 5G technology and products. In the next two years, realme will invest USD 300 million globally in 5G technology research and product development, as well as in promoting global 5G popularization.