Realme’s First Global Flagship Store to Open June 1 in India

Chinese smartphone manufacturer realme announced on Thursday that its first global flagship store in India was officially put into trial operation, and several pictures of the store were released. According to realme India’s Twitter, the flagship store will officially open on June 1.

It can be seen from the official pictures that the flagship store has multiple floors displaying a wide selection of the company’s products and offerings, including smartphones, televisions, dolls, as well as leisure areas.

Realme opened its first offline store in India in August 2020 and said it would open at least 300 offline stores in the future. The new store which will be opened on June 1 is its first offline flagship store. In addition, realme will open its first offline store in Europe in Hungary on May 28.

According to Canalys’ latest report, realme’s shipments in India increased by 40% year-on-year in the first quarter, reaching 6 million units, ranking third.

Chase Xu, Vice President of realme, said in an interview on May 26 that according to market changes, realme will make some necessary adjustments in its general direction this year, and the global sales target will be lowered by about 10-20%.

Furthermore, he pointed out that the company remains optimistic about the long-term development of the overall market. The chip shortage that has plagued the whole industry since last year has been letting up this year. “From the perspective of supply chain, there is no lack of chips,” he added.

At the beginning of this year, realme set itself a sales target of a year-on-year increase of 50% to 90 million units. In 2021, the company had sold 60 million smartphones worldwide, also up 50% year-on-year.

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After the reduction of 10%-20%, realme’s latest sales target this year is 72 million to 81 million units. In the first quarter of this year, the company shipped 14.5 million smartphones worldwide, achieving about one-fifth of its annual target.