Xiaomi India's Chief Business Officer Raghu Reddy resigns: Report

Xiaomi Indias Chief Business Officer Raghu Reddy, who was at the key role for nearly three years, has moved on from the company to pursue new opportunities, reliable sources said on Wednesday.

Reddy, who spent more than six years at Xiaomi India, was elevated as Chief Business Officer for its India operations in February 2020. He earlier headed the Categories and Online Sales for Xiaomi India.

When contacted by IANS, Xiaomi India confirmed the development, saying it has been a privilege to have Reddy as an integral part of the Xiaomi India leadership team.

"He has played an influential and significant role in Xiaomi becoming the No 1 smartphone and Smart TV brand in India. As he moves on to pursue different growth opportunities externally, we wish him all the best for his journey," the company spokesperson said.

"Xiaomi India has built a strong leadership team over the years and we will look to strengthen this going forward. As a brand, we will continue to focus on delivering innovation for everyone and democratising technology for the masses," the spokesperson said.

Reddy played a key role in propelling the company's exponential sales growth.

He began his career with Wipro Technologies as a software engineer, and went on to work with Ernst & Young as a senior consultant, followed by Snapdeal as a senior director.

Reddy's departure comes at a time when Xiaomi India's business is growing steadily in the country.

The company sold more than 11 million smartphones in the country during the Diwali festive sales.

In the third quarter (Q3), Xiaomi led the India market with a 21 per cent shipment share.

The new launches during the quarter in the budget and mid-tier segments drove Xiaomi's shipments and the brand managed to maintain its top position in the market, according to Counterpoint Research.

In the sub-Rs 20,000 price band, Xiaomi was the top 5G smartphone brand in Q3 2022.

Meanwhile, Xiaomi is gearing up to launch the Redmi Note 12 5G series in India soon. The company has confirmed the launch of the Redmi Note 12 series in the country via Twitter.

Xiaomi's Redmi Note series clocked 72 million customers since its arrival 8 years ago, setting new benchmarks in the smartphone industry, especially in India.