Manu Kumar Jain on Monday quit handset maker Xiaomi. He has been credited with establishing the brand’s smartphone category and he was working as the vice president of Xiaomi Global.
“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 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 pic.twitter.com/sVgahC7zhr
— Manu Kumar Jain (@manukumarjain) January 30, 2023
Jain had co-founded Jabon before he joined Xiaomi in 2014.
Earlier in December, Xiaomi, China’s biggest smartphone maker said it was implementing organisational restructuring and personnel optimisation that will affect less than 10 per cent of its total workforce. Earlier reports had claimed that Xiaomi may cut 15 per cent of its workforce amid Covid-19-induced lockdowns in the country and rough global macroeconomic conditions.
Xiaomi had 35,314 employees as of September 30, with more than 32,000 in mainland China. The news of the layoffs comes as Xiaomi’s financial performance has been under pressure in 2022. The Beijing-based tech major started laying off workers last year amid weaker sales due to Covid-19 lockdowns in China and slower consumer spending.
Meanwhile, a recent Canalys report said that Samsung has pipped Xiaomi in India after 20 quarters to capture the top spot in in the fourth quarter (Q4) of 2022 even as the country’s overall smartphone shipments fell to 151.6 million units in 2022, declining by 6 per cent compared with 2021. The market research firm added Samsung grabbed the top spot in Q4 for the first time since Q3 2017 with a shipment of 6.7 million units and a market share of 21 per cent.
After 20 quarters, Xiaomi lost its leadership position to Samsung and fell to third place with shipments of 5.5 million units. However, for a full-year, Xiaomi was still the number one smartphone player.