He added that versatile products with best-in-segment features across different price points - from entry to mid-range - will stimulate purchasing among different sections of the consumers.
"We are eagerly looking forward to the festive season and are quite optimistic about it with many new launches across AIOT (Artificial Intelligence of Things) and smartphones. We plan to be the No 1 online brand in India and are aiming at 20-25 per cent of overall market share (online and offline smartphone sales) during the festive season," Sheth said.
He noted that the company will introduce its 55-inch smart TV in the premium range as well as smartwatches and smart home gadgets.
"We expect to sell 8 million AIOT products by the end of 2020, and the festive season will be a major volume driver for it, contributing to around 50 per cent (sale) of the whole year," Sheth said.
Realme's AIOT products include smart TVs, smart watches and fitness bands and earbuds.
According to Counterpoint Research, Realme had 11 per cent share of the smartphone shipment in India in the June 2020 quarter, behind Xiaomi (29 per cent), Samsung (26 per cent) and Vivo (17 per cent).
Asked whether manufacturing capacity has been ramped up to meet the high demand, Sheth said the company's manufacturing facility at Greater Noida is currently operating at 80 per cent capacity.
"... We are trying our best to meet the surge in demand during the festive season. Safety is our topmost priority and we cannot risk the health of our workforce to rapidly expand production. We have prepared some stocks in advance and are confident to meet the demand for both our AIOT and smartphone products," he added.
The company has been aggressively expanding into other markets like Europe that are also being headed by Sheth.
"For Realme, India is one of the most important markets. Unlike other smartphone brands, we started our operations here in India and gradually expanded our footprint to other markets and across five continents. So, India will continue to be a critical growth driver and be a top priority for Realme globally always," he said.
Sheth added that the company is focussing on growth in European and Indian markets.
"We debuted Narzo series with Narzo 10 and 10A in May and received a massive response, reaching one million users eventually. The success of Narzo 10 series gave us confidence and motivation to step further to cover the wider price segment... Narzo 20 series will offer the young players performance-oriented smartphones with powerful gaming processors, fast charge and a massive battery," he said.
Sheth added that the company aims to reach 5 million Narzo users with the new 20 series launch.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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