Xiaomi India Rejig: The dominance of Xiaomi India, which has been occupying the number one position in the Indian smartphone market for a long time, has begun to wane. The company is now lagging behind.
The past few times have not been good for the smartphone company Xiaomi India. On one hand, the company is facing the challenge of reducing the share in the Indian market, on the other hand it is also facing the strictness of the government agencies. Amidst all this, the company is going to make significant changes in the Indian business and under this there may be large scale layoffs (Xiaomi India Layoffs).
Fear of massive layoffs
Several current and former employees of Xiaomi India have told ET that there could be massive layoffs in the coming days, as Xiaomi is going to overhaul its India business. The company plans to reduce the number of employees in the Indian business to less than 1000. At the beginning of the year 2023, the number of employees of Xiaomi India was 1,400-1,500.
Now decisions are being made from China itself
Xiaomi India has done layoffs earlier also. The company has taken out of work this month about 30 employees. According to ET’s news, due to the extensive changes taking place in the business structure of Xiaomi India, most of the decision-making authority has gone to the China-based parent company. Now the parent company based in China is taking most of the decisions related to the operation of Xiaomi India.
The company has slipped to the third position
During the first quarter of the year 2023, there was a big decline in the shipment of Xiaomi India and it was reduced to just 5 million. Just a year before this, the shipment figure of Xiaomi India was 7-8 million. Xiaomi India has been occupying the first place in the Indian market for a long time, but now the company has come far behind. Right now Samsung is at the first position, while Vivo is at the second place.
ED has seized so much property
Xiaomi India has recently faced actions from government agencies. The ED has attached bank assets worth over Rs 5,500 crore of Xiaomi India on charges of wrongly sending money out of the country. The company has legally challenged the ED’s allegations and confiscation of assets.
