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OPPO Senior Executive Li Bingzhong To Join RealMe

Jul 27, 2018 by Chauncey Jung
OPPO Senior Executive Li Bingzhong To Join RealMe

Chinese handset maker OPPO senior executive Li Bingzhong is reported to have left the company. The former executive in charge of OPPO’s overseas markets will now work for an independent smartphone maker, ‘RealMe’, the subsidiary arm of Oppo.

Sharing the same production streamline with OPPO, RealMe is one of the independent brands that OPPO had developed for overseas markets. According to iFeng Technology, RealMe was registered as a company on June 1, 2018.

The brand will target the lower end of the market with its devices priced less than CNY 2,000 (USD 290), RealMe sources said.

Li is experienced in overseas markets and boasts an especially flattering stint with OPPO in India. Under his leadership, OPPO developed a robust market base in the country, churning out roughly 10% of all smartphone devices in India. RealMe will bank on his experience and will initially focus on India but expand to other countries in the future.

RealMe debuted in India in May with its budget smartphone, RealMe 1 which quickly gained popularity in the country and sold more than 400,000 of the devices in the two-month period. With its tagline, “Power Meet Style”, RealMe 1 is aiming to become the most popular affordable smartphone in India. With a price as low as USD 141, RealMe 1 has already captured 1% of the Indian smartphone market in less than 60 days.

India is believed to be one of the largest markets for smartphone devices. The second most populated country exhibits an ever-increasing demand for smartphones and tablets due to its rapid economic growth.

However, unlike the smartphone markets in developed countries, Indian consumers prefer low-end and affordable devices. High-end products, such as Apple’s iPhone, are not very popular in India. Less than 1 million iPhones were sold in the last six months in the country.

On the contrary, Samsung and Xiaomi dominate India’s smartphone market. With market shares of 29% and 28% respectively, the two firms have benefited heavily from their budget devices. Xiaomi in particular, has achieved more than 10 million sales in the past quarter.

For RealMe, its competitors in India have proven that there is a path to success. With this new entrant in the fray, the competition to dominate the lucrative Indian smartphone market is certainly set to intensify.

Chauncey Jung

Chauncey Jung works with a unicorn Internet firm based out of Beijing. In his earlier stint with Sohu, a lead online-news platform headquartered in Beijing, Chanucey wrote in English on various subjects, spanning from culture, politics to social changes. His professional experience pays him off an insider perspective over China's internet industry. Completed his bachelor and master education in Canada, Chauncey is obsessed with trending technologies and economic developments across Asia. He can be reached at chaunceyzhang@foxmail.com

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