Realme to Boost its Smartphone Localization
According to Sky Li, founder and global chief executive officer of Realme, the Chinese smartphone brand is looking to expand local manufacturing in India through contract manufacturers, many of which are domestic companies, as well as asking its global suppliers to set up shop in the country. According to Li, after achieving complete local manufacturing of smartphones and televisions, the company intends to fully localise production of hearables and wearables in India.
"In terms of manufacturing, we are attempting to build a strong manufacturing ecosystem throughout India." "We are also encouraging more of our suppliers and partners to establish local factories in India in order to contribute more to the country's economy," Li said.
According to market researcher International Data Corporation (IDC), Chinese smartphone companies control more than 70% of the Indian market. This comes amid geopolitical tensions between New Delhi and Beijing. As a result, India has imposed restrictions on investments from its neighbour.
On June 13, it was reported that the Indian government had asked Chinese companies to source more from domestic firms, localise management and distribution structures, and even form potential joint ventures with Indian firms.
Realme currently sources 60-70% of its smartphone parts in India, such as screens and batteries. The company has collaborated with Bhagwati Electronics, Videotex International, and Skyworth on smart televisions. It has collaborated with KHY Electronics on smart wearables and hearables.