Tag: Madhav Sheth Realme VP

HIGHLIGHTS * Honor is said to be busy setting up the team for its India operations. * Honor is expected to start by launching a few new smartphones in India. * Madhav Sheth has referred to claims of him becoming the new Honor India CEO as “speculation”. Honor is reportedly preparing for its re-launch in the Indian market. The surprising move could happen as early as next month. It could start with launching smartphones once it arrives. In the meantime, the company is busy setting up the team that will take care of operations in India. The team could even be headed by Realme’s Madhav Sheth. Honor, the Chinese smartphone brand formerly owned by Huawei, is looking to re-enter India in August at a time when other Chinese brands like Realme and Xiaomi are struggling to drive volumes in the market, which contracted in 2022. Honor's India partner PSAV Global Tech Private Limited is currently discussing with former Realme India CEO Madhav Sheth to help launch Honor-branded smartphones. Based in Noida, PSAV Global distributes Honor devices such as laptops, tablets and wearables and is most likely to sell Honor smartphones in both online and offline channels for which it will use Sheth's network. Sources said Sheth will bring key employees from Realme India to help set up sales operations for Honor smartphones. Sources added that Honor doesn't plan to set up its own team in India and will continue with its arrangement with PSAV Global, which has a comprehensive network of over 5000 retailers and more than 100 distributors covering both rural and urban areas across India in the top 100 cities. Last year Honor pulled its team out of India due to geopolitical tensions. The company’s CEO, Zhao Ming, then confirmed the move and said that local partners would operate the operations with a "very safe approach". When reached out, Sheth declined to comment on his talks with PSAV. Sources added that Sheth, who Realme elevated to the new VP for Business and Corporate Strategy (Global), will formally exit the company within a week. In 2020, Chinese telecom major Huawei sold Honor smartphone business assets to a consortium of buyers in China, with Shenzhen Zhixin New Information Technology Co Ltd being the most significant stakeholder due to US sanctions. Since then, Honor maintained its presence in the Indian market and launched laptops and wearables through e-commerce platforms. The company is now expected to launch a few smartphone models in India. Queries sent to Honor and Realme India didn’t elicit any response. With its mid-range smartphones, Honor competed intensely with companies like Samsung, Vivo and OnePlus in India. It managed to corner a 3% market share in 2018, which was its best year in terms of sales. Honor to Re-Enter India: What We Know Economic Times (ET) has shared a report where it has claimed Honor India is looking for a return by the end of July. It means we are about two months away from the re-launch of the company if everything goes as per plan. It is expected to begin by launching a few smartphone models that will be sold via online shopping portals. The company has begun the process of setting up a new team responsible for handling Indian operations. Honor is said to be in touch with various Realme and Xiaomi senior executives to see if they would be willing to join. The biggest highlight of the report is that Realme’s Madhav Sheth could become the CEO of Honor India. Sheth currently serves as the Vice President of Realme and President of Realme International Business Group. While Sheth has responded by saying, “This is a speculation”, the report adds he is currently having conversations about his role with Sky Li, CEO and Founder of Realme. Nevertheless, it would be a huge move from Honor if it manages to pull it off. Sheth has been associated with Realme since its early days and has helped it become the brand that it is today. He not only helped the company become a household name in the smartphone space but also played a crucial role in Realme’s expansion into other categories including smart home products. Honor used to be a Huawei sub-brand but the latter was forced to sell the company in 2020 due to sanctions imposed by the US government. Shenzhen Zhixin New Information Technology Co Ltd is the major stakeholder in the consortium of buyers that ended up buying the company. Since then, it has released smartphones, tablets, laptops, and wearables among other products in China and Europe. Honor India was also quite active but reports started to emerge last year that the company was exiting the Indian market and pulling its team out due to geopolitical unrest. The company responded to these claims by saying that Indian operations will continue to be run by local partners but with a “very safe approach”. Most recently, Honor launched the MagicBook X14 (2023) and MagicBook X16 (2023) laptops in India. Realme's Madhav Sheth May Join Honor To Revive Phone Business In India Madhav Sheth, currently VP for Business and Corporate Strategy (Global) at leading technology brand Realme, is likely to soon join Honor India to revive the rival brand in the country, top sources told IANS on Friday. According to the sources, senior India leadership at Realme is also rumoured to join Sheth in a key exodus, who is likely to spearhead Honor India’s operations as CEO in the country. The director-level executives from Realme’s online and mainline (offline) verticals have also put in their papers, who will join Sheth at his new stint at Honor India, according to sources. When contacted, the company did not immediately comment on the development. Importantly, Sheth was absent from the company’s flagship launch event on Thursday, where it introduced Realme 11 Pro 5G series featuring two models — the 11 Pro 5G and the 11 Pro+ 5G. The Realme 11 series was endorsed by Bollywood superstar Shah Rukh Khan as the company’s new brand ambassador. In March, the company said that Sheth, who was elevated to the new role of VP for Business and Corporate Strategy (Global), would look after the Indian market which is strategically important for the global technology brand. The company had told IANS that Sheth’s international background and global vision will provide forward-looking strategic guidance for Realme’s development in the global market. It also firmed up its Indian management team. Nisar Naikoo and Dipesh Punamiya were assigned the responsibility of independently managing the India business. Sheth, earlier the CEO of Realme India, VP of Realme, and President of Realme International Business Group, has been at the forefront of creating consumer products with trendsetting technologies, features, and designs in the country. The development at Realme is significant at a time when the Indian smartphone market is going through a churn, as Apple and Samsung solidify their presence amid doubling down on local manufacturing of their products, leaving once formidable Chinese players behind in the race. In 2020, Chinese conglomerate Huawei sold off its Honor smartphone business assets to China-based Shenzhen Zhixin New Information Technology Co Ltd. Last year, Honor said it was not planning to exit the Indian market, where it expanded beyond smartphones to enter the laptop segment and also launched a wearables portfolio. “Honor is maintaining business operations in India and will continue its development,” a company spokesperson had said. The company still has a sizable presence in the country, along with its service centres. Launched at Rs 42,990, the company’s introductory laptop, Honor MagicBook 15, came with 8GB RAM, 256GB SSD, a hidden pop-up webcam, a 2-in-1 fingerprint power button, and a compact 65W fast charger. Since its creation in 2013, the Honor brand has focused on the youth market by offering phones in the low- to mid-end price range. In 2020, the company made the Honor Watch GS 3 available in India for Rs 12,990. Faqs 1) Realme’s Madhav Sheth to join HONOR India as CEO: Report? Ans) Madhav Sheth, the current VP for Business and Corporate Strategy (Global) at realme, is set to join HONOR India to revive the brand in the country, according to a report by IANS. Additionally, several director-level executives from realme’s online and offline verticals are expected to join Sheth at HONOR India. It is worth noting that Sheth was noticeably absent from realme’s recent flagship launch event, where the company introduced the realme 11 Pro 5G series. The realme 11 series was endorsed by Bollywood superstar Shah Rukh Khan as the brand ambassador. Earlier this year, realme announced Sheth’s appointment as VP for Business and Corporate Strategy (Global), specifically overseeing the strategically important Indian market. The company emphasized that Sheth’s international background and vision would provide strategic guidance for realme’s global development. The India business was entrusted to Nisar Naikoo and Dipesh Punamiya, who would manage it independently. Sheth has played a pivotal role in introducing consumer products with innovative technologies, features, and designs during his tenure at realme. This development holds significance as the Indian smartphone market undergoes a transformation, with Apple and Samsung solidifying their presence and focusing on local manufacturing. Chinese players are facing challenges in this fiercely competitive landscape. HUAWEI divested its HONOR smartphone business assets to Shenzhen Zhixin New Information Technology Co Ltd in 2020. Despite this, HONOR expressed its commitment to the Indian market and expanded its product offerings beyond smartphones to include laptops and wearables. Recently, HONOR launched the HONOR MagicBook X14 and X16 2023 laptops powered by Intel Core i5 12th Gen ‘H Series’. While the companies involved have yet to confirm these developments, we can expect more information to emerge in the coming days. 2) Realme’s Madhav Sheth may join rival Chinese brand Honor in India. Details? Ans) Realme’s current VP for Business and Corporate Strategy (Global) Madhav Sheth may reportedly leave the technology brand to join its home country rival, Honor. According to a report in news agency IANS, Sheth is expected to soon join Honor India. According to the report, senior India leadership of Realme too is likely to join Sheth in a key exodus. He is also likely to lead Honor India's operations as CEO in the country. The report also claims that director-level executives from Realme's online and offline verticals have also put in their papers. These executives will reportedly join Sheth at Honor India. However, neither Realme nor Honor has shared an official comment on the development. The Indian market is strategically important for the global technology brand. In March, the company said that Sheth, who was promoted to the new role of VP for Business and Corporate Strategy (Global), would look after the Indian market. Earlier, Sheth has served in multiple roles in the company which includes CEO of Realme India, VP, Realme and President and Realme International Business Group. He has also been at the forefront of creating consumer products with trendsetting technologies, features and designs in the country. Sheth’s absence at Realme 11 Pro 5G series launch event Sheth was absent from the company's flagship launch event where it introduced the Realme 11 Pro 5G series. The lineup features two models --the Realme 11 Pro 5G and the 11 Pro+ 5G. The Realme 11 Pro 5G series is being endorsed by Bollywood superstar Shah Rukh Khan as the company's new brand ambassador. Honor in the Indian market Chinese conglomerate Huawei sold off its Honor smartphone business assets to China-based Shenzhen Zhixin New Information Technology Co Ltd. in 2020. In 2022, Honor said it was not planning to exit the Indian market. The company also expanded beyond smartphones to enter the laptop segment in the country and even launched a wearables portfolio. "Honor is maintaining business operations in India and will continue its development," a company spokesperson had said. Along with its service centres, the company still has a sizable presence in the country. Since its formation in 2013, Honor has targeted the youth audience by offering low- to mid-range phones. The company’s first laptop, Honor MagicBook 15 was also launched at Rs 42,990. The notebook features 8GB RAM, 256GB SSD, a hidden pop-up webcam, a 2-in-1 fingerprint power button and a 65W fast charger. Also, the company started offering the Honor Watch GS 3 in India for Rs 12,990 in 2020. Also Read: An exponential growth over the past four years, interview with Madhav Sheth, realme Also Read: Realme GT 3 launch date confirmed By Madhav Sheth for February 28 at MWC2023 featuring 240W fast charging support

Tag: Madhav Sheth Realme VP

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