Manu Kumar Jain, who helmed the Chinese smartphone giant Xiaomi's business in India, has resigned from the company after a nine-year stint.
"In a short span of seven years at Xiaomi India, Manu Kumar Jain played an instrumental role in the company's success, leading it to be India's most loved and trusted brand. We would like to thank him for his valuable contribution to the business and the smartphone industry in India and wish him success in his future endeavours and pursuits," the company said in a statement.
On Twitter, Jain said that over the next few months, he will take some time off before taking up his "next professional challenge".
"I am a builder at heart and would love to build something new, ideally in a new industry. I am proud of having been a small part of the ever-growing startup community twice. I hope to return to it with another fulfilling challenge," he said.
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/sVgahC7zhrJain joined the Xiaomi Group in 2014 as country manager and head of Xiaomi's India business after having co-founded the e-commerce portal, Jabong.
By 2019, he was promoted to the position of company president of India, Bangladesh, Nepal, Bhutan, and Sri Lanka. He moved abroad to settle in Dubai in 2021, joining the international team as global vice president.
Jain oversaw the growing pressure on the Chinese company as it grew, with the government alleging violations of FEMA rules and seizing over Rs 5,000 crore from its bank accounts.
Jain's role as India head was crucial, with Xiaomi becoming the largest smartphone brand in India and leading with a 21% shipment share as of the July-September 2022 quarter, according to data from CounterPoint Research.
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