Tag: Madhav Sheth’s next Step

HIGHLIGHTS * Realme Global VP Madhav Sheth has left Realme. * Madhav Sheth took to Twitter to confirm his exit from Realme. * It is reported that Madhav Sheth could join Honor India as CEO in the coming few days. * Realme’s Madhav Sheth has left the organization to start a "new journey". * Sheth announced the news of his exit on Wednesday. * Sheth’s exit comes months after Xiaomi India head Manu Jain quit. * Realme VP Madhav Sheth has announced his exit from the company * Sheth will still be a strategic advisor for the company * Sky Li will now oversee the Indian operations. Realme’s Madhav Sheth has officially announced his exit from the company. The VP of Realme Global took to Twitter to confirm his departure from Realme. As noted by Madhav Sheth in the announcement, Sky Li, founder and CEO of Realme will now oversee the market. In a letter posted on Twitter, Madhav Sheth mentions that he will continue to cheer the brand from the sidelines, and he will act as a strategic advisor to Realme for its development strategy, global product observation, market insights, and operating suggestions. Realme’s Madhav Sheth has left the organization to start a "new journey". Sheth, who has been a part of Realme India’s success journey since day one, announced the news of his exit on Wednesday. Realme was launched in India back in 2018. "After 5 years at realme, it's time for me to move on and start a new journey," Sheth noted in an official tweet. Sheth’s exit comes months after Xiaomi India head Manu Jain quit. In a long exit message, Sheth said that "Realme has been an integral part of my life, a brand that was so much more than just on organization: it has been my home, my passion, and my purpose, I am proud of everything we accomplished together over the past five years, as we grew the brand and watched it proliferate. But even more important was what the brand gave back to me." He further said that "the Government of India has taken many steps towards enhancing Indian exports for many years, and I am happy to be a part of this and support the government’s export plan." "After a long conversation with Sky Li and also with his support, it's time for me to contribute my share to the country's export business," Sheth further noted. "I'm still a strong supporter and a strategic advisor to Realme for its development strategy. Global product observations, market insights, and operating suggestions," he noted. Sheth added that "Realme India is strategically important and Sky Li will now oversee this market." Madhav Sheth’s next Step? So, where is Sheth heading next? While there is no official confirmation on this yet, reports suggest that he will join Honor and help boost its business in India. Of late, Honor has been silent on phone launches in India, but the company never officially existed the market. Last year, an Honor spokesperson refuted reports about the company exiting the Indian market. "Honor is maintaining business operation in India and will continue its development. The earlier news report that 'Honor officially announces its exit from the Indian market' is not correct,” the spokesperson said. Realme Global VP Madhav Sheth Leaves Realme To recall, Sheth was appointed as Vice President (VP) role at Realme Global back in March. While announcing his departure from Realme, Madhav Sheth also mentioned some of the milestones and landmarks the company has created during the last 5 years. During his time at Realme, the company became the fastest-growing smartphone brand in India with 50 million product sales. Additionally, Realme also became India’s second-largest brand. Besides that Realme also opened exclusive and flagship stores in India, expanding their presence across the country, thereby also contributing to the “Make in India” initiative. In a statement shared by Realme on Madhav Sheth’s exit, the company said that “We would like to express our heartfelt gratitude to Madhav Sheth for his valuable contributions, passion, and dedication during his tenure at realme. Under his leadership, Realme has achieved remarkable milestones, solidifying its position as one of the fastest-growing smartphone brands worldwide. We extend our warmest wishes to Madhav for a successful future ahead. While we bid farewell to Madhav, we want to assure our customers, partners, and stakeholders that Realme’s operations will continue seamlessly. Our commitment to providing high-quality products, exceptional user experiences, and innovative technologies remains unwavering. We will continue to drive the brand forward, delivering outstanding products and services to our customers worldwide.” Realme spokesperson.” Currently, Madhav Sheth has not revealed any details as to which company he will be joining in future. However, a recent report suggests that Madhav might soon take charge as Honor India CEO. It is said that the Chinese smartphone maker Honor is looking to India return by July end. The company is expected to launch its new smartphones in India which could be sold via an online shopping portal. It is also reported that Honor has started setting up their team in India. The company is also in touch with several senior executives from Realme and Xiaomi to see if they are willing to join. To recall, Honor was the subbrand of Huawei. However, Huawei was forced to sell Honor back in 2020 due to sanctions imposed by the US government. Honor has not been active when it comes to launching smartphones at least in the Indian market. However, the brand continued to maintain its presence in India by launching a few products apart from smartphones. Most recently, Honor has launched the MagicBook X14 (2023) and MagicBook X16 (2023) laptops in India. Honor to Re-Enter India: What We Know Economic Times (ET) has shared 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 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. MyMobile Flashback With Madhav Sheth 1) Trends nowadays are like waves of tsunamis, massive, powerful, and frequent!! So what are your views on this “ever-changing” & “non-lasting” trend environment? Ans) Even if trends are continuously changing and evolving, it’s nevertheless fascinating to learn how rapidly customer tastes and preferences are changing. While the majority of trends keep on evolving, some do alter market dynamics permanently. Technology, especially digital technology and growing information processing capacity, is what’s driving the transition. Technologies by themselves do not alter business landscapes; rather, how they empower people does. For example, the smartphone industry looks drastically different today than it did three decades ago and the only constant this whole industry has understood is the need for constant innovation and addressing the constant needs of users with technology. Therefore, I believe, It’s crucial to consider trends in the context of the bigger picture. We have an authored article about “how to manage the changing environment”. We can excerpt some good insights 2) In the end, we would love to know your honest opinion about the technology and electronics industry, current trends, market conditions & upcoming opportunities globally!! Ans) One of the global industries with the quickest growth rates, the electronic manufacturing sector has altered both business and personal life in many ways. * With so many advantages, 5G is an exciting advancement for the tech and smartphone industries, and we anticipate that it will gain popularity with consumers. * Trends for feature phones are never changing; however, they will continue to evolve. Today, customers are looking for smartphones with high-pixel cameras, fast-charging batteries, sleek designs, and affordable ones at the same time. * Error-free consumer-friendly products that can be created by manufacturers employing virtual reality and augmented reality. * Internet of Things: The global dynamics and mindset in terms of innovation and economic value have been propelled by IoT trends. Faqs 1) Madhav Sheth Quits Realme India, says it’s time for a new journey.Details? Ans) The Vice President of Realme, Madhav Sheth, who has also been overlooking India operations, has now officially announced that he is leaving Realme. Further, he confirmed that Realme’s operations in India will continue seamlessly, and will now be overlooked by Sky Li, founder and CEO of the brand. Madhav Sheth took to Twitter to announce his departure from Realme. In the long exit letter, he said that India is strategically important to Realme, and he will now act as a strategic advisor to the company for its development strategy, global product observations, market insights, and operating suggestions. Questions were already being raised regarding internal changes in Realme when Sheth was found absent from the latest Realme 11 Pro 5G series launch in India. “The Government of India has taken many steps towards enhancing Indian exports for many years, and I am happy to be a part of this and support the government’s export plan. After a long conversation with Sky Li and also with his support, it’s time for me to contribute my share to the country’s export business”, Sheth added. 2) 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. 3) 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: Madhav Sheth New Global Vice President for Business & Corporate Strategy, Michael Guo to Take Charge as India Head Also Read: Realme’s Former Ceo Madhav Sheth Could join Rival Chinese brand Honor in India as CEO India Head on their Entry Back In India

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