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Here’s why Realme phones are getting more expensive after Diwali

CEO Madhav Sheth blamed weak rupee valuation for the possible price revision of Realme phones in India.

tech Updated: Nov 05, 2018 13:24 IST
Kul Bhushan
Kul Bhushan
Hindustan Times
Realme,Realme 1,Realme 2
Realme offers Realme 1, Realme 2, Realme C1, and Realme 2 Pro budget phones in India(HT Photo)

Realme phones may get more expensive in India after Diwali. CEO Madhav Sheth in a tweet pointed out that the company was already working on low margins and that the weak rupee valuation may lead to a price revision.

“The rupee rates are falling and as a brand we actually work on low margins. It indicates that we might have to upgrade the pricing, just to make sure that we continue to give you the best technology in our upcoming offerings. We are trying to figure out a solution post Diwali,” he said.

Realme entered in India earlier this year as a sub-brand of Oppo. Since its debut, the company has launched four phones – Realme 1, Realme 2, Realme C1, and Realme 2 Pro. Realme’s phones have received mostly positive reviews, especially for their premium design. It is also trying to compete with the likes of Xiaomi in the budget segment with aggressive pricing of its devices.

While Realme shares the same parent company BBK Electronics, it now operates independently, like other subsidiaries Oppo, Vivo, and OnePlus. According to a recent Counterpoint Research report, the company grabbed 1% of the Indian smartphone market and 4% of the online phone market during April-June quarter of this year.

Realme, however, is not the only company to bear the brunt of weak rupee valuation. Apple CEO Tim Cook earlier this week blamed weak currency for “flat” business in India and increasing prices of its iPhones and other devices. ALSO READ: Realme to soon launch mobile accessories portfolio

First Published: Nov 04, 2018 16:21 IST