Madhav Sheth, the former head of Realme India, has officially announced his departure from the company. In a letter posted on Twitter, Sheth revealed that Sky Li, the founder and CEO of Realme, will now oversee the Indian market. Sheth emphasized the strategic importance of India to Realme and expressed his commitment to serving as a strategic advisor to the company. In this role, he will provide guidance on development strategies, global product observations, market insights, and operational suggestions.
“After five years at Realme, it’s time for me to move on and start a new journey,” Sheth stated. He expressed his pride in the accomplishments achieved during his tenure and the growth of the Realme brand. He conveyed his confidence in Realme India’s ability to continue creating excitement among fans and consumers with new products and experiences. Sheth extended his best wishes to Realme and expressed his gratitude to the community for their support. He also highlighted his intention to contribute to the country’s export business, with the support of Sky Li.
A spokesperson from Realme assured customers, partners, and stakeholders that the company’s operations would continue seamlessly despite the leadership change in India. They emphasized Realme’s commitment to providing high-quality products, exceptional user experiences, and innovative technologies. The spokesperson stated that Realme would persist in driving the brand forward, delivering outstanding products and services worldwide.
Sheth’s departure has sparked a reorganization of Realme India’s operations, with increased involvement from the Chinese headquarters in decision-making. Reports have indicated that the current leadership in Realme India has been appointed as assistants to their counterparts at Realme’s Shenzhen office. Additionally, teams responsible for the Indian market, including zonal sales managers, area business managers, and regional retail teams, now report to the regional sales managers.
In a recent interview to ET Telecom, Sky Li expressed Realme’s commitment to adapt to the evolving market landscape in India, aiming to regain lost market share and maintain competitiveness. He mentioned plans to refine Realme’s entry-level smartphone offerings to drive consumer demand. According to Counterpoint Research, Realme experienced a 52% year-on-year decline in the January-March quarter of 2023, resulting in a drop to fifth place with a 9% market share. Analysts attributed these challenges to factors such as inventory build-up and unfavorable market conditions in the sub-Rs 10,000 segment. Realme is now focusing on expanding its consumer base through offline retail channels.
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