Manu Jain on Monday announced to quit global smartphone brand Xiaomi after serving it for nine years, saying the “end of a journey also marks the beginning of a new one, full of exciting opportunities”.
In a post on Twitter, Jain, who was hailed as the poster boy of the Indian smartphone industry, announced the move, but did not disclose where he would be joining next.
“I joined the Xiaomi Group in 2014 to start its India journey. The first few years were full of ups and downs. We started as a one-person startup, working from a small office,” he said.
In a statement, Xiaomi India said that in a short span of 7 years, “Manu Kumar Jain played an instrumental role in the company’s success leading it to be India’s most loved and trusted brand”.
“We would like to thank him for his valuable contribution to the business, and the smartphone industry in India and wish him success in his future endeavors and pursuits,” the company told IANS.
According to Jain, within three years of his joining, Xiaomi became the No 1 smartphone brand in India, that too without spending any advertising money.
“Soon, 100 per cent of our smartphones and smart TVs were being ‘Made in india’. Our expanding scale of operations helped generate more than 50,000 jobs in India,” he said.
Jain subsequently joined the Xiaomi international team. In June 2022, he was transitioned to the global role as Group Vice President.
“After nine years, I am moving on from the Xiaomi Group. I feel confident that now is the right time, as we have strong leadership teams across the world,” Jain added.
Xiaomi held the top spot in India’s smartphone market in 2022. The year was a tough year for Xiaomi as it faced legal complications, component shortages, and intense competition, according to Counterpoint Research.
Inventory build-up in online channels during the festive season further slowed its shipments in Q4 2022.