Realme India head Madhav Sheth has been elevated to the role of Vice President of Business and Corporate Strategy (Global). Earlier some news reports noted that Sheth has stepped down from the post of India chief executive officer at the Chinese consumer tech major, reasons for which stayed unknown at that moment.
“Exciting news! I’m thrilled to announce that I’ve accepted a new role as VP for Business and Corporate Strategy (Global). Excited to take this opportunity and contribute to company’s success,” Sheth wrote on Twitter.
While Sheth’s replacement is still unknown, some reports highlighted the name of Michael Gut as the new face who will lead Realme’s business in India. Sheth holds several positions at Realme, which is owned by Chinese multinational BBK Electronics. He is also the Vice-President of the company and President of the Realme International Business Group.
According to a report by the Economic Times, citing IANS, Sheth will still look after Realme’s business in Asia’s third-largest economy as it is “strategically” important for the company. In the meantime, Nisar Naikoo, who has been promoted to Offline sales director for the company’s smartphone business, and Dipesh Punamiya, who has been appointed as the Sales Director of IOT business, will be independently managing Realme’s business in India and oversee its day-to-day operations, the report added.
The Chinese smartphone maker will create more local employment opportunities and being good products to consumers, it said in an interview with IANS. Realme has been doing well in the country and stood fourth among top the top five companies in terms of smartphone shipments in the country in July-November 2022, according to a report by International Data Corporation.
Meanwhile, another report by IDC highlighted that the annual global smartphone shipments last year fell to the lowest since 2013. Additionally, despite the holiday season, smartphone shipments suffered the largest-ever single-quarter decline in the fourth quarter of 2022.