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Obi Mobiles CEO Ajay Sharma quits

Obi Mobiles CEO Ajay Sharma has quit the company after a short 11 month stint, reports The Economic Times. Sharma has confirmed this to the publication, although there is currently no information on what he plans to do next and who will be replacing him at Obi Mobiles. ET also cites a source to suggest that Sharma moved out of the company due to operational issues and declining sales in the country. Sharma had joined Obi Mobiles from Micromax in February 2014, prior to which he was heading the latter's smartphone division. He was also responsible in setting up HTC India's operations and was the company's India head for about five years. Obi Mobile which is backed by Apple's former CEO John Sculley's Inflexionpoint, had entered the intensely competitive Indian smartphone market in July this year and was targeting the entry level & mid level smartphone market in the country. However, the company's products doesn't seem to have worked in the market amid competition from players like Motorola and Xiaomi which started offering premium smartphones at very aggressive prices in the country. In fact, even the market leader Samsung is struggling with declining sales in this segment and facing lot of exits at the top management. Also read: Trends and developments in the Handset segment in India in 2014 (Image credit)

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