Realme releases world's first 5G smartphone priced under 1,000 yuan

A 5G smartphone from startup Realme with mainstream chip and camera setups priced at 999 yuan debuted in China on Friday.

It is the world's first mainstream 5G smartphone priced under 1,000 yuan, and is expected to boost 5G industry development and lower entry thresholds for the new technology.

The Q3 series from Realme, which posted sales growth of 463 percent in the first quarter, features a MediaTek chip, 48-mega-pixel camera and fast-charging capabilities.

The Realme Q product line offers users affordable models and has received positive market feedback in China. The company has sold more than 1 million of its previous Q2 series smartphones in the domestic market, according to Xu Qi, Realme’s vice president.

In February, China had about 260 million 5G users. More affordable models will increase the number of 5G users and boost applications in the 5G ecosystem, analysts said.

Outside of China, Realme has rapidly expanded in European countries such as Russia and Greece, Xu said.