Manu Jain has been synonymous with the Xiaomi brand in India ever since the Chinese tech giant made its India entry. The poster boy of Xiaomi’s India ambitions, Jain has announced his exit from the company after a nine-year stint – 7.5 years in India and 1.5 years in global role.
Manu Jain’s Xiaomi Journey
Jain, an alumnus of IIM-Calcutta and IIT-Delhi, began Xiaomi India’s journey in 2014 in Bengaluru along with Google’s former VP Hugo Barra. At that time, Xiaomi’s Redmi phones were not only feature-rich but were also cheaper than most of its rivals in the country. Thanks to Jain’s brilliant marketing acumen and well thought-out strategies, the Chinese phonemaker managed to grab the biggest share in the smartphone business in India in just three years of its entry. Which till date continues and even today, Xiaomi is a leader in the smartphone market in India. After ruling the smartphone segment, the Chinese tech giant has made its mark in other product categories like smart TVs, power banks, speakers and smart wearables, etc. At that time, as a new entrant it had to compete against some established giants like Samsung, OnePlus, Oppo and Vivo in the Indian smartphone space. The challenge was to deliver higher-specs phones at more affordable prices to Indian consumers.
After tasting a continued success in a difficult market like India, Xiaomi promoted Jain to vice president (global) and also Managing Director (India).
What is Jain up to next?
Jain has said that right now he will take some time off and then move on to build something other than phones or gadgets in a new industry. “Over the next few months, I will take some time-off, before taking up my 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,” Jain wrote in a social media post.
On his journey. Jain writes that the first few years were full of ups and downs. “We started as a one-person start-up, working from a small little office. We were the smallest amongst the hundreds of smartphone brands, that too with limited resources and no prior relevant industry experience. But due to the efforts of a fantastic team, we were able to build one of the most loved brands in the country.”
Controversies during Jain’s stint at Xiaomi India
The biggest challenge Jain came during his stint at the Chinese company after India’s relation with China soured post Galwan Valley clash between the armies of both countries in 2020. In the aftermath of armed clash, consumer sentiment turned against Chinese products and companies. But, the big trouble started in 2022, when Enforcement Directorate and Income Tax authorities began scrutinising the company’s alleged illegal financial transactions. Amid the tension at Xiaomi India unit, there were several top-level exits at Xiaomi India, including Raghu Reddy, Xiaomi India business head. Many top level management executives, including Jain, were made to cool their heels in law enforcement offices. Jain made efforts, after the geopolitical tension between India and China, to project the smartphone company as an Indian brand.
Now, Chinese smartphone maker Xiaomi is not only facing monetary difficulties in India almost a year after the Income Tax Department and the Directorate of Enforcement froze $1 billion in the bank accounts of its local unit. The investigative agencies later widened scrutiny of the Chinese smartphone maker and its India office was raided in December 2022 in a separate investigation over alleged income tax evasion. Some other Chinese smartphone markers were also raided at the time.
