iQOO India announced on Monday that Nipun Marya, who served as Director of vivo India for five years, has now been appointed as the company’s new CEO. Under him, iQOO aims to double its online market share in the mid-premium space from 5% to 10% in the country by next year.
iQOO was launched in 2019 as an online-exclusive brand under vivo and mostly sells mid-range devices with a key focus on performance. The company made its way into India in early 2020 and was being led by Gagan Arora, director of marketing of iQOO India, who will continue to be a part of it.
Marya, who is now CEO effective immediately says that he would strive to create “a robust brand awareness among the millennial and Gen Z smartphone lovers in the country.”
“iQOO’s target audience is tech-savvy young Indians who go into the details before purchasing smartphones. The ‘make in India’ brand will offer cutting-edge, top-of-the-line specifications for users who want premium experiences from their devices,” he told IANS.
vivo, under Marya’s leadership, stood third in Q3 2021 with a market share of 15 percent and became the top 5G smartphone brand for the first time in the same period. iQOO, on the other hand, saw a massive growth of 671% in Q3.
This has been made possible through offerings like the iQOO Z5, which brings a range of compelling specifications like a 120Hz display, Snapdragon 778G chipset, 64MP camera, and more, for just ₹23,990.
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