Xiaomi India chief commercial officer Raghu Reddy steps down amid heightened regulatory scrutiny and competition
One of Xiaomi’s top executives in India is leaving the smartphone maker as it faces growing regulatory scrutiny and competitive pressure in the country.
Chief Commercial Officer Raghu Reddy, who helped the Chinese company rise to the top of India’s smartphone and smart TV markets, has resigned to “pursue different outside growth opportunities”, Xiaomi India said in an email. -mail Wednesday. “It has been a privilege to have Raghu as an integral part of Xiaomi India’s management team,” he said.
Reddy, who is currently on notice, did not respond to a WhatsApp message seeking comment.
Xiaomi is among Chinese companies targeted by the Indian government amid continued hostility between the two nuclear-armed neighbors since 2020, when the deadliest fighting in decades erupted along a disputed border site in the Himalayas. Indian authorities accused Xiaomi of illegally transferring money overseas, allegations it denied saying the transfers were royalty payments.
Meanwhile, Prime Minister Narendra Modi’s administration has asked smartphone makers, including Chinese firms, to export more from India and build local supply chains. But the recent holdup by an Indian state agency of some 27,000 phones to be exported by Xiaomi’s rival Vivo is likely to confuse Chinese brands.
Prior to his most recent role, Reddy led online sales at Xiaomi and helped the brand become a hit on Indian e-commerce websites. He previously worked for SoftBank-backed Indian online retailer Snapdeal.
© 2022 Bloomberg L.P.
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