Madhav Sheth Moves On From Realme After 5 Years, May Join Rival Smartphone Brand Honor

It is being said that Sheth has left Realme to embark on a "new journey".

He was instrumental in the brand's journey in India.

Source : Realme

CEO of Realme India, VP, Realme and President, Realme International Business Group Madhav Sheth has officially resigned from the company after five years. He was instrumental in the brand's journey in India. Sheth announced from his official Twitter handle on Wednesday that he was leaving the company. Some reports suggest that Sheth is likely to join handset rival Honor which may restart operations in India.

"Goodbye can be disheartening, but world is too small until we meet again. Farewell for now, but our paths may cross again soon, and that's something to look forward to building a better and bigger me," Sheth announced on Twitter.

Goodbye can be disheartening, but world is too small until we meet again.
Farewell for now, but our paths may cross again soon, and that's something to look forward to building a better and bigger me. #Goodbye #UntilWeMeetAgain pic.twitter.com/sXSG06DFIR

— Madhav Sheth (@MadhavSheth1) June 14, 2023

It is being said that Sheth has left Realme to embark on a "new journey". Meanwhile, Sheth has confirmed that Ski Li will head Realme India's business going forward. Sheth would continue to serve as a strategic advisor to the handset maker, despite officially resigning from Realme. 

This development comes soon after China's tech behemoth BBK Electronics, also the parent of Realme decided to make handset makers OnePlus, Oppo and Realme separate entities in India. The tech giant is making an attempt to de-risk its India business, said a recent report by Economic Times. The three smartphone OEMs will have sales accounted for in their own books. Previously, Oppo Mobiles India was handling the distribution and sales of all three handset makers.

Handset makers OnePlus and Realme are likely to join hands with local Indian contract manufacturers soon.

According to data by market intelligence firm Counterpoint data, India's smartphone market is dominated by Chinese players, with BBK Electronics' owned Vivo, Oppo and Realme along with Xiaomi accounting for almost half of all sales. South Korean tech giant Samsung has a 20 per cent share.