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Launched in 2019, iQOO is an online exclusive sub-brand under Vivo. The brand, which forayed into the Indian smartphone market in January 2020 with its 5G smartphone, was being led by Gagan Arora, director of marketing at iQOO. Arora will continue with the brand.
Marya, who has taken the role with immediate effect, will now leave his position at Vivo, which he held for the last 5 years. The company has already appointed an executive to take over from his duties.
“iQoo was the fastest growing brand in the last one year. It grew 600% in Q3 of this year over the second quarter. Seeing the growth, we are now firming up our plans to double our market share. We are going to ensure the brand promise, which is premium and high performance products,” Marya said.
Marya, citing third party research, claimed that iQOO managed to corner 5.1% online market share in Re 15,000 and above price segment. “We are now aiming for 10% share in the segment in 2022. After 2022, we can have even steeper goals. iQoo is making a name for itself.”
Marya said that iQOO will also increase its focus on the premium or Rs 30,000 and above price category. “We are already present with our two phones. We will continue to expand. A lot can be offered by iQOO in that segment,” he added.