Xiaomi India is undergoing a significant leadership transition as Muralikrishnan B, the company’s President and one of its longest-serving executives, prepares to depart at the end of 2024. Recruited from Jabong by former Managing Director Manu Kumar Jain, Muralikrishnan played a pivotal role in Xiaomi’s resurgence after facing regulatory hurdles and shifting consumer preferences in the Indian market.
A New Era of Leadership
During his tenure, Muralikrishnan was instrumental in steering the company back to a position of strength. He will step down from his operational responsibilities on December 31, 2024, transitioning to a strategic advisory role. While the specifics of his advisory involvement remain unclear, his deep understanding of the Indian consumer landscape will undoubtedly continue to shape the company’s strategies.
Although a direct replacement has not been named, Xiaomi has been proactive in preparing for this transition. In August 2024, Sudhin Mathur, an industry veteran with experience at Lenovo, LG, and Sony Ericsson, joined the company as Chief Operating Officer. Mathur has been seamlessly integrating into the leadership team and reuniting with Anuj Sharma, Xiaomi’s Chief Marketing Officer, a former Lenovo colleague.
The Road Ahead
Xiaomi faces stiff competition in India from Samsung and Vivo. The company is focusing on “premiumization,” enhancing its brand image and introducing higher-end products. This strategy was evident with the launch of the Redmi Note 13 series, priced at a premium compared to its predecessor, and the flagship Xiaomi 14 and Xiaomi 14 Ultra models, which have gained considerable traction with consumers. Its not the first time Xiaomi has attempted to go through the premiumisation route, which started well under Manu Kumar Jain’s tenure.
While pursuing this premium strategy, Xiaomi remains committed to its core value of affordability. At the India Mobile Congress 2024, the company unveiled the Redmi A4 5G, an upcoming smartphone designed to make 5G technology accessible to millions of Indians. The company is also moving to a dual annual-launch approach for their Redmi Note series phones with the launch of the Redmi Note 14 series planned for December.
Beyond Smartphones: Diversification and Growth
Xiaomi also holds a substantial share of the smart TV market, a segment in which it continues to invest heavily. Recent announcements include QLED TVs in various sizes, OLED TVs, and budget-friendly options under the Redmi brand. The company has also partnered with Amazon to introduce Fire TV-powered televisions in India, with a notable degree of success. Xiaomi’s long-term vision involves expanding its presence in the TV market, where it faces price competition from Samsung. The company is also looking into the wearables and audio segement which they neglected and eventually lost market share to ODM brands.
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Xiaomi’s first decade in India was defined by establishing a strong foothold in the consumer technology sector. The next decade will likely see the company diversify into AIoT (Artificial Intelligence of Things), household electronics, and potentially even electric vehicles.
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