Micromax CEO Vineet Taneja resigns

Micromax CEO Vineet Taneja quits as the company finds it difficult to battle with Chinese smartphone makers

A file picture of Vineet Taneja at the launch of Canvas Silver 5 smartphone (Source: Nandagopal Rajan)

Micromax CEO Vineet Taneja, who was hired from Samsung India in 2014, has resigned from his post.

Micromax issued a statement on the resignation saying,”Vineet has moved on to pursue other interests. We would like to thank him for his contribution and wish him good luck. The co-founders and senior leadership are very well entrenched into the operations and the business as usual.”

Before joining Micromax, Taneja was Samsung India’s mobile and IT business chief. According to IDC, Micromax is the second largest smartphone brand with 16.7 percent market share.Micromax may have retained the position but it’s Yu brand has contributed more to the sales

Micromax may have retained the position but it’s Yu brand has contributed more to the sales. The IDC report notes that the company faces strong competition from Chinese and other homegrown brands.