Manu Kumar Jain left the Xiaomi smartphone company on Monday. He served as the vice president of Xiaomi Global and is credited with founding the company’s smartphone division.
Manu Kumar Jain quits handset maker Xiaomi
Jain announced in a Tweet:
“Change is the only constant in life! Last 9 years, I’m lucky to have received so much love that it makes this goodbye so difficult. Thank you all. ❤️ The end of a journey also marks the beginning of a new one, full of exciting opportunities. Hello to a new adventure! #ManuJain,”
Jain joined Xiaomi in 2014 after co-founding Jabon.
Xiaomi, the largest smartphone manufacturer in China, announced earlier in December that it was pursuing organisational reorganisation and personnel optimization that would only effect less than 10% of its whole staff. According to earlier rumours, Xiaomi may reduce its personnel by 15% as a result of lockdowns brought on by Covid-19 in the nation and challenging financial conditions worldwide.
Xiaomi financial performance under pressure
As of September 30, Xiaomi employed 35,314 people, more than 32,000 of whom were based in mainland China. The announcement of the layoffs comes at a time in 2022 when Xiaomi’s financial performance has been challenged. As a result of decreased sales and slower consumer spending brought on by Covid-19 lockdowns in China, the Beijing-based tech giant began cutting off employees last year.
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Xiaomi loses its India’s leadership position to Samsung
According to a recent Canalys analysis, Samsung edged out Xiaomi in India after 20 quarters to take the top rank in the fourth quarter (Q4) of 2022, despite the fact that the nation’s overall smartphone shipments decreased to 151.6 million units in 2022, a decline of 6% from 2021. According to the market research company, Samsung took the top spot in the fourth quarter for the first time since the third quarter of 2017 with shipments of 6.7 million units and a market share of 21%.
After 20 quarters, Xiaomi was overtaken by Samsung for the top spot and dropped to third with shipments of 5.5 million units. However, Xiaomi remained the top smartphone player for the entire year.
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