Another Xiaomi boss who resigned. This time it is Manu Jain, the Xiaomi official who raised the Chinese company's business in India.
Jain led the Xiaomi India business for 8 years as Global Vice President. Over the past few months, Jain is said to have told several insiders regarding his plans to leave Xiaomi.
Quoted from TechCrunch, Tuesday (31/1/2023), Jain is also actively approaching investors to pitch his new business which is engaged in electric cars (EV). This news has not been directly confirmed by Jain.
India is one of Xiaomi's biggest markets. Entering since 2014, Xiaomi has succeeded in challenging the dominance of Samsung, OnePlus and Oppo in the country, by offering inexpensive cellphones with fierce specifications.
However, Xiaomi's business in India was shaken in 2020 due to geopolitical issues between India and China. According to one inside source, Jain should have been promoted to a higher global post, but Xiaomi suddenly changed its mind.
"I joined Xiaomi in 2014 and started my adventure in India. The first years were full of ups and downs. Our office was very small at that time among other HP brands. Our resources were very limited, so was experience in the industry," said Jain in a statement.
Long List of Xiaomi Bosses Resigning
Jain's resignation adds to a long list of departing Xiaomi bosses. Last December, President of Xiaomi, Wang Xiang, resigned from the Chinese giant.
Not only him, the two Xiaomi co-founders, Hong Feng and Wang Chuan, will also not take care of the company's day-to-day operations. This was announced by the Founder and CEO of Xiaomi, Lei Jun, through an internal memo to employees,
"The job handover went smoothly," Lei said in the memo at the time.
Lei admits that Xiaomi is facing difficult times. In the future, a strategy will be launched to increase efficiency in Xiaomi's operations.
Before the departure of its 3 bosses, Xiaomi also laid off workers in several of its mobile phone (HP) business units and internet services. The news circulating says that no less than 15 percent of Xiaomi workers have been laid off.
However, Xiaomi said that less than 10 percent of its total workers were affected by the layoffs. His party also guarantees that it will provide compensation for victims of layoffs according to applicable regulations.
It is known, in November Xiaomi reported a decrease in revenue in the third quarter of 9.7%, due to Covid-19 restrictions in China and weak consumer demand. Revenue from HP Xiaomi reaches 60% of total sales. That figure decreased by 11% compared to the previous year.