Madhav Sheth, co-founder of the smartphone company Realme, has resigned from the company. He was working as the Vice President of the company and President of the International Business Group for the last five years. Madhav Sheth has been instrumental in launching Realme in India. Sheth was quite active on the social media platforms apart from playing the topmost role in the company. He used to discuss directly with the customers about Realme’s products. He also has a huge fan following on Twitter and other platforms.
Sheth has disclosed about his further planning. Sheth told that he is going to start a new venture in the export sector. In connection with this, he has resigned from Realme. Following his resignation, the company’s founder Sky Lee will also take over the additional responsibility of the company’s India business. Realme is a subsidiary of Chinese smart device maker group BBK Electronics.
Sheth wrote this message on Twitter
Sheth shared this news to Twitter on Wednesday, he wrote, “Saying goodbye can be disappointing, but the world is too small until we meet again. Goodbye for now, but our paths may cross again soon, and that’s something I look forward to making me better and bigger.”
Companies are worried about declining sales
Sheth’s exit comes at a time when smartphone sales have been under pressure. Smartphone shipments fell to a four-year low of 31 million in the first quarter and the overall smartphone market is expected to see flat growth this year, according to market research firm International Data Corporation’s (IDC) Worldwide Quarterly Mobile Phone Tracker report. Realme smartphone shipments dropped by more than half to 2.9 million units during the reported quarter from 6 million units in the March 2022 quarter.
