Xiaomi India’s Second face after Hugo Barra, Manu Kumar Jain gets a promotion to Global Vice President. Also, he got promoted to Managing Director for India from Country Manager. The news got official when the company announced it via it’s Twitter handle, on the other hand, Manu had updated his social media profile with the new designation. He got the position of his former colleague Hugo Barra, who moved into Facebook as a part of oculus VR team.
Talking about Manu Kumar Jain’s History, he joined Xiaomi back in 2014. Before that, he was a co-founder of online retailer Jabong.
According to the latest IDC data, Xiaomi is ranked second in Q4 of 2016. It had about 10.7 percent share, while Samsung had over 25.1 percent market share. However, Xiaomi has a better annual growth rate of 14.8 percent as compared to Samsung’s 3.2 percent. The company reported crossing revenue of $1 billion (approximately Rs 7,000 crore) in 2016.
Ever since Xiaomi entered India, they have been shaking the market by launching products at an aggressive price and making the competition even tougher. Xiaomi’s recently launch of Redmi Note 4 was one of the bold moves in terms of pricing, as the top variant of Redmi Note 4 (64GB + 4GB) was launched at a super affordable price of Rs. 12,999. Also, the company claims to sell their recent budget smartphone which includes Redmi 3S, 3S Prime, and 3S+, 3 million units in India since the launch in August. Xiaomi says that close to 100 percent of the Redmi 3S series phones are manufactured locally.
Xiaomi India is also looking forward to increasing its offline share as, “Till now, our focus was on online sales. Now, we will focus both on online and offline distribution. We expect our share from offline to grow from current 10 percent to 20-25 percent by the end of this year. This is our aspiration,” Manu Kumar Jain recently said.