Arvind Vohra resigns as Gionee India CEO & MD, will continue as Executive Director

After serving the company for nearly five years, Arvind Vohra has stepped down as Gionee India's chief executive officer and managing director. He however will continue in the company as its executive director.

The Chinese smartphone brand will announce the replacement for the post of CEO soon, most likely to be someone from China operations.

"I will not be taking care of daily operations, but I will continue in the company as executive director. This is a decision taken by the chairman," he said. The company is expected to name a replacement soon which is likely to be a senior executive from China operations.

Gionee entered India in 2012 and in the present day competes with Chinese rivals including Xiaomi and Lenovo that together have taken nearly 56% share of the Indian smartphone market as of June this year.

Gionee clocked $1.4 billion (Rs 9,500 crore) of revenue in India since inception in India till December last year. In the year ended March 2016, the company clocked a little over Rs 4,000 crore. The company said earlier this year that it planned to raise revenue by 2.5 times by end of ongoing fiscal.

It also aims to double market share from the India by the end of next fiscal, while looking at least 50% growth in volume sales in the same time frame.

The Shenzen-headquartered company is expected to increase its marketing spend in the India market to Rs 500 crore this year, up by 40% from last year.

To add to it, the company has also acquired 50 acres of land for its own manufacturing unit in Faridabad, Haryana, which will take 18-24 months to come up. The plant will have a capacity of 30 million units with an investment of Rs 500 crore.

Tags: Arvind Vohra, arvind vohra gionee india, Indian smartphone market, gionee Chinese smartphone brand