Xiaomi’s powerhouse leader steps down. The former head of its Indian arm Manu Kumar Jain announced his resignation after about nine years. The development comes amidst the ongoing legal tussle between the Enforcement Directorate (ED) and Xiaomi over the company’s alleged violation of the Foreign Exchange Management Act (FEMA).
Jain spearheaded the launch of Xiaomi in India in 2014. He moved to the more significant role of President for the Indian sub-continent to manage the business in India, Bangladesh, Nepal, Bhutan, and Sri Lanka.
He was promoted to the position of Global Vice President in January 2017.
The ED started action against Xiaomi about a year after Jain moved to Dubai.
During his tenure, Xiaomi became the top-selling smartphone brand in India in 2017, as per market analyst estimates, even after a few controversies around security-related issues with the company.
Xiaomi allayed concerns by setting up data centers in India to store customers’ and other business data.
In January 2018, Xiaomi attracted investment from Ratan Tata.
Jain was instrumental in getting Xiaomi smartphones and later television manufactured in India.
According to Counterpoint Research, the company led the Indian smartphone market with a 20 percent volume market share in 2022. Xiaomi slipped to third position after Samsung and Vivo in the October-December 2022 quarter. Xiaomi’s Powerhouse Leader Steps Down
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