Madhav Sheth to Step Down as Realme India CEO: Reports
Realme India head Madhav Sheth has reportedly stepped down from his position as the CEO, as the company is planning to appoint a new face. According to various reports, Sheth will be replaced by Michael Gut as the new Realme India head. Apart from being the CEO of Realme India division, Sheth, CEO also acts as the Vice-President at Realme and President of the Realme International Business Group. It is not known yet as he plans to quit from other positions as well. Neither Realme, nor Sheth have yet confirmed the reports regarding his resignation.
It was reported earlier in the day via IANS that the company is planning to appoint a new business head from China for the India division as Sheth is all set to resign from his position as soon as the official confirmation comes out. He holds several position at Realme, and has been the face of Realme India for years now. Sheth also takes care of Realme’s overseas business operation, and reports directly to Sky Li, Founder and CEO of Realme.
Realme has been performing well in India not only in terms of the smartphones sales, but other electronics and home appliances as well. The company, along with other Chinese firms like TP-Link and Hikvision, recently dominated India’s home surveillance camera market in 2022 with 77 percent share, said market research firm Counterpoint Research.
According to IDC, Realme stood among the top five companies in terms of smartphone shipments in India in the July-November 2022 quarter with 14.2 percent share. Since its inception in 2018, Realme has flared well in the Indian smartphone market.
Realme has already tapped into the 5G-enabled smartphone division in India under various price ranges, from affordable models to the premium segment.
While the company has not made any official announcement regarding Sheth’s resignation as the Realme India CEO, it is yet to be seen who will be appointed as the next business head for the smartphone brand in India.