Smart devices maker Realme on Thursday said it expects to bring a 5G smartphone for less than Rs 10,000 next year, and plans bring down the handset price to around Rs 7,000 apiece thereafter.
Realme Vice-President and CEO (India and Europe) Madhav Sheth at a 5G summit announced that the company will 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.
Sheth said 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 high price.
When asked when will Realme bring a 5G smartphone for less than Rs 10,000, Sheth replied: "Definitely by next year." 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.
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.
Qualcomm India & SAARC Vice-President and President Rajen Vagadia said availability of 5G smartphones in countries like India where 5G network is still not available will give telecom operators a boost to launch the service at the earliest.
"By the time networks are going to be commercially available, we will see large part of India already on 5G devices," Vagadia said.
He said India is very much adopting 5G because consumers are aware that it will give better gaming and camera experience.
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.
"To support the global adoption of 5G products, it will set up seven 5G R&D centres," Sheth.
The R&D centres 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.
