Chinese smartphone brand Realme unveiled its latest handset GT Neo 5 SE to target gaming enthusiasts in its latest push to grab a bigger share of the world's largest smartphone market amid intensified competition.

Priced from 1,999 yuan ($291) in China, GT Neo 5 SE is designed to popularize affordable gaming smartphones.

Xu Qi, president of Realme, said the company's offline service outlets have covered 80 percent of prefecture-level cities nationwide, and it aims to achieve 100 percent coverage by the end of this year.

Shipments of smartphones in China fell 13.2 percent year-on-year to 285.8 million units in 2022, according to market research firm International Data Corp. This is the first time in a decade that China's phone shipments have fallen below 300 million units.

Launched in the middle of 2018, Realme has quickly gained popularity in India and then grew to be a major smartphone vendor in the world, chiefly relying on its popularity in e-commerce sales channels and its resonance with young consumers.