Comprehensive Business Overview of iQOO
iQOO was founded by Duan Yongping and Shen Wei, whose parent company Vivo, which was owned by BBK Electronics in January 2019 is a Chinese smartphone manufacturer. iQOO launched the first smartphone in China in 2019. In 2020, iQOO entered the Indian Market specialising in gaming smartphones while competing with brands like Xiaomi, OnePlus, and Realme. Their premium smartphone gained recognition, particularly in markets like India and Southeast Asia.
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iQOO User Base Growth (2020–2024)
In 2020, IQOO started with a small number of loyal users in China and India. This was done while keeping specialisation on flagship gaming devices. In 2021, IQOO focused on affordable devices and attracted a wide range of customers. In 2022, its mid-range segments caught a good number of user base as phones didn’t compromise on performance. In 2023, among gamers and tech enthusiasts, iQOO created an impression through strategic sponsorships and product innovation. In 2024, 5G and AI features were offered in a balanced product portfolio accelerated growth. iQOO User Base Growth have been summarised below:
| Year | Estimated User Base (Millions) | Key Drivers and Highlights |
| 2020 | 5.2 | Entry into the Indian market with the launch of iQOO 3, targeting gaming enthusiasts.- Focused on the premium smartphone segment with flagship processors and fast charging technology. |
| 2021 | 10.8 | Released popular models like iQOO 7 and 7 Legend, enhancing performance and camera features.- Expanded online sales through partnerships with platforms like Amazon and Flipkart in India. |
| 2022 | 16.5 | Diversified product range with mid-range smartphones like iQOO Z5 to attract a broader audience.- Strong marketing campaigns and competitive pricing boosted sales in Southeast Asia. |
| 2023 | 23.4 | Launched iQOO 11 series with top-tier Snapdragon processors and gaming-focused features.- Collaborated with esports events, gaining traction among the gaming community globally. |
| 2024 | 30.1 | Expanded offline presence in India and other markets.- Introduced AI-powered features and 5G-enabled devices at affordable prices, appealing to tech-savvy users. |
iQOO Product Range (2020–2024)
In 2020, iQOO introduced the iQOO 3 as a flagship phone having flagship performance for gamers and power users. In 2021, Z3 was launched as a mid-range segment while innovating iQOO 7 series. In 2022, the iQOO 9 series for premium users in the Z5 for budget-conscious consumers. In 2023, the iQOO 11 series in Neo 7 in gaming and flagship dominance were launched. In 2024, across all price points, iQOO, balanced AI features and 5G connectivity to appeal to a wider audience. iQOO Product Range has been summarised below:
| Year | Product Series | Key Features and Highlights |
| 2020 | – iQOO 3 | Flagship model with Snapdragon 865 processor and 55W fast charging.- Targeted gamers and performance users. |
| 2021 | – iQOO 7 Series- iQOO 7 and iQOO 7 | Legend with Snapdragon 888 processors and AMOLED displays.- Enhanced gaming features and camera. |
| – iQOO Z3 | Affordable mid-range device with Snapdragon 768G and 55W charging. | |
| 2022 | – iQOO 9 Series- iQOO 9, 9 Pro, and 9 SE | With premium designs, gimbal-stabilized cameras, and fast performance. |
| – iQOO Z5 | Mid-range smartphone with Snapdragon 778G, high refresh rate display, and large battery. | |
| 2023 | – iQOO 11 Series- iQOO 11 and iQOO 11 Pro | With a Snapdragon 8 Gen 2 processor, 144Hz AMOLED display, and advanced gaming modes. |
| – iQOO Neo 7 | Mid-range offering with MediaTek Dimensity processor and excellent value for money. | |
| 2024 | – iQOO 12 Series- iQOO 12 and iQOO 12 Pro | feature next-gen Snapdragon processors, improved cooling, and AI-driven software optimizations. |
| – iQOO Z7 and Z8 Series | Affordable 5G smartphones with large batteries, high refresh rates, and competitive pricing. |
iQOO Social Media Follower Growth by Platform (2020–2024)
Substantial growth was observed on Instagram due to collaborations with influencers. Timely updates were received from a tech-savvy audience. Targeted ads appealed to followers on Facebook. Unboxing videos, gaming reviews and tutorials enhanced the experience on YouTube. iQOO Social Media Follower Growth by Platform is summarised below:
| Year | Instagram (Millions) | Twitter (Millions) | Facebook (Millions) | YouTube (Subscribers, Millions) | Key Highlights |
| 2020 | 0.5 | 0.2 | 0.7 | 0.1 | Focused on India launch campaigns for iQOO 3.- Gamers and tech enthusiasts were the primary audience. |
| 2021 | 1.2 | 0.5 | 1.5 | 0.4 | Increased digital marketing efforts for the iQOO 7 series.- Interactive gaming contests and giveaways. |
| 2022 | 2.5 | 1.2 | 3.0 | 0.8 | Social media engagement rose with the iQOO 9 series launch.- Collaborated with influencers and esports events. |
| 2023 | 4.0 | 2.0 | 4.5 | 1.5 | Gained traction with the iQOO 11 series and partnerships with gaming communities.- Focused on video content and tutorials on YouTube. |
| 2024 | 6.0 | 3.0 | 6.2 | 2.3 | Expanded presence globally, driving engagement for the iQOO 12 series.- Regular content on gaming tips, unboxing, and reviews. |
Financial Statistics of iQOO (2020–2024)
In 2020, iQOO reported fair revenue growth where India was the primary market. In 2021, product launches supported revenue growth. In 2022, the Z series was launched which targeted a mid-range user base. In 2023, esports sponsorships, global expansion efforts and premium models iQOO 11 maintained steady revenue growth and profit. In 2024, specialised in AI innovation and 5g affordability surged record-high revenue. Financial Statistics of iQOO have been summarised below:
| Year | Revenue (USD Billion) | Net Profit (USD Million) | Key Financial Highlights |
| 2020 | 0.5 | 20 | Initial market entry focused on India and China.- Revenue driven by the success of the iQOO 3 flagship model. |
| 2021 | 1.2 | 50 | Significant growth due to the launch of the iQOO 7 series.- Expanded market share in Southeast Asia. |
| 2022 | 2.1 | 110 | Revenue doubled with strong sales of the iQOO 9 series.- Profitability improved due to cost optimization in production. |
| 2023 | 3.0 | 180 | Global expansion and partnerships with gaming communities boosted sales.- The iQOO 11 series was a major contributor to revenue. |
| 2024 | 4.2 | 250 | Introduction of affordable 5G models increased sales volume.- Investments in AI and R&D further strengthened the product lineup. |
iQOO Customer Demographics (2020–2024)
Primary gamers and tech enthusiasts dominated in 2020-2022. It dominated its presence in India and China and later expanded its presence in Europe, the USA, and the Middle East due to affordable devices launch. iQOO Customer Demographics have been summarised below:
| Year | Age Group (Primary Users) | Geographic Distribution | Customer Preferences |
| 2020 | 18–30 years (70%) | India (60%), China (30%), Others (10%) | Performance-focused users, especially mobile gamers.- Demand for flagship features at mid-range prices. |
| 2021 | 18–35 years (75%) | India (55%), Southeast Asia (25%), Others (20%) | Continued appeal to gamers.- Growing interest in camera capabilities and battery life. |
| 2022 | 20–40 years (65%) | India (50%), Southeast Asia (30%), Europe and USA (20%) | Expansion into international markets.- Preference for balanced performance and value. |
| 2023 | 20–45 years (60%) | India (45%), Southeast Asia (35%), Europe and USA (20%) | Wider acceptance among professionals for productivity.- Demand for 5G and premium gaming features. |
| 2024 | 20–50 years (55%) | India (40%), Southeast Asia (30%), Europe, USA, and Middle East (30%) | Diversified audience with interest in AI-driven features and affordable 5G smartphones. |
