Last Updated: March 24, 2023, 11:15 IST
After all the rumours, it has been finally confirmed that Madhav Sheth, VP realme and President, Realme International Business Group, is accepting a new global role at the company. Madhav shared the news via this tweet on Friday.
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.— Madhav Sheth (@MadhavSheth1) March 24, 2023
It is still not clear who will run Realme’s India business with Sheth accepting a new global role at the company.
Sources had told IANS that Realme is set to make the India announcement as soon as possible, as the domestic smartphone market goes through a churning. News18 Tech met him recently to understand the company’s future plans and where he sees the smartphone market going in 2023.
Sheth, being a veteran in the field, clearly has a command over the local market dynamics — something that the upcoming Chinese executive may not have in his kitty.
Another worry for Realme, according to industry insiders, is that a Chinese national at the helm may send negative signals to the Indian government which is already after Chinese-run businesses, especially smartphone vendors, which were allegedly involved in tax evasion running into thousands of crores.
Sheth has been at the forefront of creating consumer products with trendsetting technologies, features and designs in India.
Read all the Latest Tech News here
(This story has not been edited by News18 staff and is published from a syndicated news agency feed)