Madhav Sheth to Step Down as Realme India CEO: Reports

Realme India head Madhav Sheth has reportedly stepped down from his place as the CEO, as the corporate is planning to appoint a brand new face. According to numerous reviews, Sheth can be changed by Michael Gut as the brand new Realme India head. Apart from being the CEO of Realme India division, Sheth, CEO additionally acts as the Vice-President at Realme and President of the Realme International Business Group. It shouldn’t be recognized but as he plans to give up from different positions as nicely. Neither Realme, nor Sheth have but confirmed the reviews relating to his resignation.

It was reported earlier within the day through IANS that the corporate is planning to appoint a brand new enterprise head from China for the India division as Sheth is all set to resign from his place as quickly as the official affirmation comes out. He holds a number of place at Realme, and has been the face of Realme India for years now. Sheth additionally takes care of Realme’s abroad enterprise operation, and reviews instantly to Sky Li, Founder and CEO of Realme. 

Realme has been performing nicely in India not solely by way of the smartphones gross sales, however different electronics and residential home equipment as nicely. The firm, together with different Chinese companies like TP-Link and Hikvision, lately dominated India’s residence surveillance digicam market in 2022 with 77 % share, stated market analysis agency Counterpoint Research. 

According to IDC, Realme stood among the many prime 5 firms by way of smartphone shipments in India within the July-November 2022 quarter with 14.2 % share. Since its inception in 2018, Realme has flared nicely within the Indian smartphone market. 

Realme has already tapped into the 5G-enabled smartphone division in India below numerous value ranges, from inexpensive fashions to the premium phase.

While the corporate has not made any official announcement relating to Sheth’s resignation as the Realme India CEO, it’s but to be seen who can be appointed as the following enterprise head for the smartphone model in India.