Key Points
China's Realme, once the No. 2 smartphone brand in India, is now plagued with a mass exodus of key executives, with 16 of them having left the company in recent months to join a rival which will be relaunching the Honor brand in the country, said people familiar with the matter...
The key executives who have left Realme, which is now down to No. 4, include the offline and online sales heads, the AIoT business head and several others from the marketing department...
"These sales heads have also taken their core team with them," one of the people said, asking not to be named..
Realme India is now being run by executives based in China, and the management doesn't have a plan to appoint Sheth's replacement, said the people...
In the April-June quarter, Realme lost its India market share by 5 percentage points from a year earlier to 12%, as per Counterpoint Research, which ranked it at the fourth spot. Tarun Pathak, research director at Counterpoint, said the company's challenges include high inventory, exits of key executives and product and channel positioning..
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