Mumbai: Chinese smartphone brand realme has elevated its vice president (VP) and India and Europe CEO Madhav Sheth to spearhead the company's business operations in the Latin America region.

Under the new designation of realme VP and India, Europe and Latin America CEO, Sheth will lead the product, marketing, brand-building, and sales functions in these regions, the company said in a statement on Thursday.

In Mexico and Brazil, realme will prioritise product development, which is always a top priority for the company and will aim towards building a strong local workforce in the Latin American region. In addition, realme will optimise its market and channel strategies in Mexico and Brazil.

"Under Sheth's stewardship, realme has ascended to the top five vendors in Europe in Q2 2021 as per Strategy Analytics, and the company plans to do the same in Mexico and Brazil next year," the brand said.

According to a report by Counterpoint Research, realme now ranks among the top six smartphone brands globally. It is the fastest brand ever to reach 100 million shipments in the history of the global smartphone market, as per Strategy Analytics. The brand ranks among the top five smartphone makers in 18 markets in Q2 2021, as per Canalys.

"The foray into a new and promising market reflects realme’s vision to bring trendsetting technology and leapfrogging performance to the consumers in the region, enabling it to achieve its ambition of gaining dual 100 million users by 2023 and build its way to a leading tech brand," realme said.