Q3 2023: Realme: Solid ASP Drove Revenue Growth
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Realme global smartphone shipments declined -2.2% YoY but grew in strong double digit sequentially +19.5% QoQ in Q3 2023 driven by new launches in Q3 and at tail end of Q2 2023. This is Realme’s sixth consecutive annual decline but the decline % has now turned out to be very minimal, thanks to diversified portfolio, increasing 5G penetration and new launches. It lost ground in India and Central Eastern Europe. India, one of the largest markets for Realme is experiencing leadership exodus for the vendor and has led to decline -8.2% YoY in Q3 2023.
