Xiaomi has elevated its India head Manu Kumar Jain to Global Vice President. He has also been promoted from Country Manager and India head to Managing Director for India. The company made the announcement via its Twitter handle, whereas Manu Kumar Jain has also updated his profile with the new designation. His promotion follows former global VP Hugo Barra’s departure from the company last month. Barra is currently set to spearhead Facebook’s efforts in the virtual reality segment.
Manu Kumar Jain joined Xiaomi back in 2014 to oversee the Chinese company’s foray into the Indian market. Jain is also a co-founder of online retailer Jabong. Since Jain joined Xiaomi, the company has registered a phenomenal growth in India, which now happens to be one of its biggest markets.
— Mi India (@XiaomiIndia) February 17, 2017
According to the latest IDC data, Xiaomi ranked second in Q4 of 2016. It had about 10.7 percent share, while the market leader 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.
The company is reaping benefits from its evident focus on the budget smartphones category ever since it stepped foot in the Indian market in 2014. The company is known for disrupting the segment by launching a slew of high-specced smartphones at affordable prices. It’s recentRedmi 3S-series, which includes Redmi 3S, Redmi 3SPrime and theRedmi 3S+, saw 3 million units selling in India since the launch in August. Xiaomi says that close to 100 percent of the Redmi 3S series phones are manufactured locally. ALSO READ: Xiaomi sells 3 million units of Redmi 3s range in India, becomes second largest smartphone vendor
The company is now looking to expand its presence in the offline market. “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. RELATED: Xiaomi to ramp up offline presence in India: Manu Kumar Jain