Madhav Sheth to step down as CEO of Realme India, Michael Guo to be appointed: Reports
Realme India chief Madhav Sheth has reportedly stepped down as CEO as the company plans to appoint a new face. According to various reports, Sheth will be replaced by Michael Gut as the new head of Realme India. Apart from being the CEO of the Realme India division, Sheth, CEO, also acts as Vice President of Realme and President of the Realme International Business Group. It is not known yet as he is considering leaving other positions as well. Neither Realme nor Sheth have yet confirmed the information regarding his resignation.
It was reported earlier today via IANS that the company plans to appoint a new Chinese chief executive for the Indian division as Sheth is set to step down from his position as soon as official confirmation is released. He holds several positions at Realme and has been the face of Realme India for years now. Sheth also handles Realme’s overseas business operations and reports directly to Sky Li, Founder and CEO of Realme.
Realme has performed well in India not only in terms of smartphone sales but also other electronics and home appliances. The company, along with other Chinese companies such as TP-Link and Hikvision, recently led the Indian home surveillance camera market in 2022 with a 77% share, market research firm Counterpoint Research said.
According to IDC, Realme was among the top five companies in terms of smartphone shipments in India during the July-November 2022 quarter with a share of 14.2%. Since its creation in 2018, Realme has exploded well in the Indian smartphone market.
Realme has already operated the division of 5G-enabled smartphones in India in different price ranges, from affordable models to high-end segment.
Although the company has not made any official announcement regarding Sheth’s resignation as CEO of Realme India, it remains to be seen who will be named the smartphone brand’s next business leader in India.