Xiaomi global vice president Manu Kumar Jain quits company after 9 years

Xiaomi global vice president and former India head, Manu Kumar Jain, on Monday (January 30) announced that he is leaving the company after nine years of association. He announced his exit through a post on Twitter saying that he will be taking some time off.
“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!” Jain said in a tweet, which also had his full statement.

Xiaomi smartphones grabbed the top spot under Jain
Jain has been Xiaomi’s poster boy for a long time. He joined the Xiaomi Group in 2014 to start its India journey. “The first few years were full of ups and downs. We started as a one-person startup, working from a small office,” he said.
Jain says that within three years of his joining, the company became the top smartphone brand in India, that too without spending any advertising money.
“Soon, 100% of our smartphones and smart TVs were being ‘Made in India’. Our expanding scale of operations helped generate more than 50,000 jobs in India,” he added. Jain was shifted to a better role and joined the Xiaomi international team as Group Vice President.

Xiaomi-ED case
The development comes in the middle of the ongoing legal issue between the Enforcement Directorate (ED) and Xiaomi over an alleged Foreign Exchange Management Act (FEMA) violation by the company. The Enforcement Directorate (ED) issued the order to seize Rs 5,551 crore worth of deposits of the Chinese company on April 29 last year under FEMA. The ED also sent it for approval from the competent authority.
In October, Xiaomi India said it was disappointed with the decision of the competent authority to approve the order of seizure.
Xiaomi said over 84% of the total royalty payments made to Qualcomm for patents and IPs were only for the Indian version of smartphones. It also noted that the royalty payments were made via RBI-approved banking channels.