Xiaomi Promotes Manu Jain As Global VP
Xiaomi India’s head Manu Kumar Jain has been promoted to the Global Vice President of the company. Jain will remain as the Managing Director for Xiaomi India and will also serve as the global Vice President at Xiaomi, the company confirmed in a tweet.
India has been a strong market for the Chinese smartphone maker. Xiaomi crossed the $1 billion mark in terms of revenue in 2016. Under Jain’s leadership, Xiaomi has been able to capture 30 percent of the Indian smartphone market.
Jain’s elevation follows closely on the heels of the high profile exit of Xiaomi’s head of international operations Hugo Barra, who left to join Facebook just a few weeks ago.
Xiaomi has had a massive success in India. It sold more than 3 million units of its low cost Redmi 3S series in the last six months, which was partly responsible for pushing the company to the No 2 position in the segment.
According to IDC Xiaomi’s share grew three-fold to 10.7% in the quarter ended December 2016, compared to 3.3% in the same period last year. Sequential growth was 15.3% while Xiaomi expanded its retail presence with the launch of an exclusive model for offline channels.
The unprecedented success of the Redmi 3S series contributed majorly to Xiaomi’s growth this quarter. Xiaomi retained the top position in the online smartphone market in fourth quarter 2016, the report said.
In the smartphone market, the share of China-based vendors touched a whopping 46 per cent in the fourth quarter 2016, as their shipments doubled over the same period last year. However, this would also mean that the competition is getting intense. To sustain growth, Xiaomi will have to focus on building strong offline channels. It needs to focus more on its R&D and come up with a device in the higher-mid end segment for users with higher disposable incomes, believe experts.
Jain’s promotions appear to be directed towards Xiaomi’s aim to capture the Indian smartphone market, especially with its offline sales now by widening its consumer reach.
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