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As India enters the festive season, global tech brand realme on Tuesday said it will give offers worth Rs 700 crore during its festive sales and the offers will be valid on all realme smartphones and Artificial intelligence of things (AIoT) products.

The users can avail of these offers on realme.com, Flipkart, Amazon and at realme stores. There will be discounts up to Rs 10,000 on smartphones and up to Rs 12,000 on AIoT products.

"realme has been consistently driving its efforts towards bringing more and more innovations in the technology industry, and over the years has introduced various products that have industry-leading features. I believe these efforts have made us the second-largest smartphone brand in India," Madhav Sheth, CEO, realme India, VP, realme and President, realme International Business Group, told IANS.

"We are really looking forward to the festive season this year and have planned offers worth Rs 700 crore for our users across smartphones and AIoT products. We are staying optimistic about the sales this year and believe that we will be able to achieve our targets," Sheth added.

The company has also introduced the realme Savings Pass for the customers. The realme Savings Pass can be redeemed soon after the sale goes live on September 8 and customers get benefits worth Rs 1,000, plus additional benefits.

As per IDC's report for Q2 2022, realme was the second-largest smartphone brand in India with a 17.5 per cent market share.

realme said it has been working towards building a strong 5G portfolio over the last two years.

"We currently have 5 million users who use 5G-enabled smartphones in India, with 50 per cent of our portfolio already being 5G-enabled. Our vision for this year has been to democratise 5G even further and we are strongly focused and invested in this combined with our recent launches," said the company.

The recent launch of realme 9i 5G is one such example. While the company has introduced 5G smartphones in the sub-Rs 15,000 segment, it is now working towards bringing the prices further down.

"There are challenges however given high component costs and fluctuating dollar prices. We don't want to bring a smartphone that does not meet all the needs of our users and hence will take some time to bring a 5G smartphone in the sub-Rs 10,000 segment," realme emphasised.

The company recently introduced the realme 9i 5G at Rs 14,999 and is working toward bringing more 5G smartphones in the upcoming months.

By the end of 2022, realme aims to become the top second smartphone brand in India.

"Moving forward, we are implementing our second phase of growth strategy where we will focus on long-term growth while continuing to bring path-breaking innovations with our products and provide our users with the best experience possible," said Sheth.