The company will set up seven 5G R&D centres to support the global adoption of 5G products
Smartphone manufacturer Realme expects to bring a 5G smartphone for less than Rs 10,000 in the upcoming year, said a top official, adding that the company is also looking to reduce the smartphone’s cost to around Rs 7,000 in the future.
The company will also invest over Rs 2,100 crore (USD 300 million) on research and development globally on 5G and set up seven R&D centres at different locations, including in India, revealed Realme Vice-President and CEO (India and Europe) Madhav Sheth.
This development follows Reliance Jio and Google’s announcement to jointly introduce a low cost 5G smartphone in the country.
While speaking at a 5G summit, Sheth added that after 3-4 years of development, Realme believes that 5G smartphone development has entered the 2.0 era where the devices have become affordable compared to the 1.0 era when 5G was limited to high-end flagship devices at a high price.
5G smartphone price will go down with more development and will be available in the mid-range and entry-level segments.
“In future, Realme will also like to democratise by launching 5G smartphones around USD 100 (around Rs 7,200),” Sheth said.
Sheth informed that the company will also expand its 5G portfolio.
Sheth said that in 2020, Realme launched about 14 products in 22 markets, accounting for about 40 per cent of its portfolio. By 2022, the number of 5G products will reach above 20 accounting for 70 per cent of all Realme product models across markets.
Sheth said Realme has dedicated 90 per cent of its R&D resources for 5G and will continue to focus on innovation in the next generation technology space.
“In the next two years, we will invest a significant amount of USD 300 million globally in research and product development based on the 5G technology.
The company will set up seven 5G R&D centres to support the global adoption of 5G products, which will be opened in China, western Europe, Eastern Europe, Southeast Asia, India, Middle East, and Latin America.
“Realme will be leveraging these seven R&D centres this year and will take lead in carrying out 5G network pilot programmes in 10-15 markets in preparation for 5G product launches,” Sheth said.
