The move, according to industry insiders, does not bode well for the company which solidified its position in a market that is highly competitive at the mass level, with Sheth, as its Indian business leader, quickly becoming the sole face of the company. time span.
According to sources, realme will make India’s announcement as soon as possible as the domestic smartphone market is going through a turbulent period.
Sheth, a veteran in the field, is clearly in charge of local market dynamics — something the soon-to-be Chinese manager may not be able to do.
Another concern for realme, according to industry insiders, is that a Chinese national at the helm may be sending negative signals to the Indian government, which is already on the trail of Chinese companies, particularly smartphone vendors, allegedly involved in tax evasion involving thousands of crores. .
Sheth, currently the CEO of realme India, VP, realme and President, realme International Business Group is at the forefront of creating consumer products with trendsetting technologies, features and designs.
An award-winning global business leader with more than 17 years of experience, he co-leads the company’s strategy development, product engineering, business development, market operations and brand-building initiatives.
Sheth is fully responsible for realme’s overseas business and reports directly to realme’s founder and CEO,
On May 4, 2018, realme was officially founded by founder Li and Sheth in India.
Sheth focused on developing AIoT devices and smartphones for Indian consumers, aiming to improve their lives by inventing fashionable and high-tech smart lifestyle products.
Under his leadership, realme India diversified into AIOT products with Smart TVs, Smart wearables and Smart hearables; strengthened main presence across the country with exclusive realme stores; enhanced ‘Make in India’ involvement with local production and export to the Nepal region, and popularized adoption of 5G-enabled smartphones.
realme emerged as the third largest smartphone brand in India in the first quarter of 2022 and the fastest growing major 5G brand globally in the fourth quarter of 2021, with a 165 percent growth in global 5G smartphone shipments.
The company climbed to the second slot for the second time, posting strong year-over-year growth of 24 percent (the highest among the top five vendors) in the second quarter of 2022, according to IDC. It grew 2 percent (quarter on quarter) in the third quarter of last year, according to Counterpoint Research.
realme strengthened its second position in the online channel with a share of 23 percent with affordable models in the C series.
realme is the No. 5 Android smartphone brand worldwide and the youngest brand to reach 100 million sales worldwide within 37 months.
Over the next five years, his goal was to achieve realme as the most loved tech-lifestyle brand in the entire country.
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