(Yicai Global) April 2 -- Mobile phone prices are likely to fluctuate from the second half of this year due to the global shortage of components, according to a senior executive at a Chinese smartphone manufacturer.

Prices will fluctuate after June because of a lack of components such as chips and batteries, the Paper reported today, citing Xu Qi, president of China operations at Oppo subsidiary Realme. He did not provide estimates of potential price changes.

The budget phone brand is using both Qualcomm Snapdragon 888 and MediaTek Dimensity 1200 chips to deal with tight semiconductor supply, Xu said at an event held on March 31. Realme launched its GT Neo model yesterday, its first powered by the Dimensity 1200 chipset. The device is priced at CNY1,799 (USD274).

The Shenzhen-based company has enough chips at the moment and has put plans in place for next year and 2023, Xu added.

Realme’s sales jumped by more than five times in the first quarter from a year earlier as demand recovered, according to Xu. This year, the company expects to sell 20 million units in China, resulting in a 3 percent to 5 percent market share.

This year’s market focus is on China and Europe after Realme targeted Southeast Asia in 2019 and India in 2018, Xu said.

Editor: Emmi Laine