Nipun Marya appointed CEO of iQOO; aims to double online market share in India

Nipun Marya, who was director of branding for Vivo India for five years, was appointed CEO of the new emerging smartphone brand iQOO India, the company said on Monday.

Under Marya’s leadership, iQOO aims to double its online market share in the mid-premium space, from 5% currently to 10% in India by 2022.

“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, high-end specifications for users who want experiences. premium from their devices, ”Marya told IANS.

“I would strive to create a strong brand awareness among Gen Y and Gen Z smartphone enthusiasts across the country,” he added.

The appointment comes at a time when major smartphone players are consolidating their sub-brands in India’s highly competitive market.

Under Marya’s leadership, Vivo occupied the third position in the third quarter of this year with a 15% share, and became the number one 5G smartphone brand for the first time in the third quarter of 2021, while also remaining the number one player. of smartphones offline.

The brand achieved its highest ever ASP (average selling price), which can be attributed to the increased focus on the high-end segment via the V and iQOO series smartphones, according to Counterpoint Research.

iQOO, which stands for “I Quest On and On,” saw massive growth of 671% in the third quarter.

“He successfully led the expansion of vivo and the evolution of the brand in India. We are delighted to see him assume the role of CEO of iQOO and are confident that he will play a pivotal role in strengthening the brand’s position in the Indian market, ”said Jerome Chen, CEO, Vivo India.

Marya would be responsible for growing the iQOO brand and its operations in India, as the brand focuses on growing its market share to solidify its position in the premium smartphone segment.

“Our smartphones like iQOO 7, Z5 and Z3 have been the top rated smartphones in their respective segments on Amazon. This prompts us to further strengthen our ambitions to bring a bold range of breakthrough innovations in future products,” said Marya.

Witness to the dynamics of the Indian smartphone market, the new CEO of iQOO will also focus on strengthening the brand’s premium and mid-premium portfolio in the country, the company said.